Bayesian Capital Management LP Takes Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Bayesian Capital Management LP purchased a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 28,200 shares of the bank’s stock, valued at approximately $1,224,000.

Several other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC raised its position in shares of Zions Bancorporation, National Association by 1.0% during the 1st quarter. CVA Family Office LLC now owns 24,783 shares of the bank’s stock valued at $1,076,000 after buying an additional 245 shares during the period. Kestra Private Wealth Services LLC increased its holdings in Zions Bancorporation, National Association by 1.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 22,288 shares of the bank’s stock valued at $978,000 after purchasing an additional 286 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Zions Bancorporation, National Association by 1.2% in the 4th quarter. Yousif Capital Management LLC now owns 26,161 shares of the bank’s stock valued at $1,148,000 after purchasing an additional 310 shares during the last quarter. Federated Hermes Inc. increased its holdings in Zions Bancorporation, National Association by 105.4% in the 4th quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock valued at $28,000 after purchasing an additional 331 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in Zions Bancorporation, National Association by 7.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 5,573 shares of the bank’s stock valued at $242,000 after purchasing an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION opened at $51.73 on Wednesday. The company has a 50-day simple moving average of $44.50 and a 200-day simple moving average of $42.58. Zions Bancorporation, National Association has a one year low of $28.90 and a one year high of $53.32. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 5.09 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.18. The firm had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. On average, analysts predict that Zions Bancorporation, National Association will post 4.53 EPS for the current year.

Insider Buying and Selling

In related news, VP Bruce K. Alexander sold 5,156 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the transaction, the vice president now directly owns 17,857 shares of the company’s stock, valued at $925,528.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the transaction, the executive vice president now directly owns 22,238 shares in the company, valued at $970,911.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, the vice president now owns 17,857 shares in the company, valued at $925,528.31. The disclosure for this sale can be found here. Insiders sold 74,369 shares of company stock valued at $3,795,490 over the last ninety days. Corporate insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the subject of several research reports. Compass Point boosted their price target on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada boosted their price target on shares of Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lowered their target price on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Finally, Wedbush boosted their target price on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.06.

Zions Bancorporation, National Association Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.