Top 5 Stock Picks of Michael Bilger’s 59 North Capital

4. Zions Bancorporation (NASDAQ:ZION)

59 North Capital Stake: $34,848,000         

Percentage of 59 North Capital’s Portfolio: 9.98%

Number of Hedge Fund Holders: 33

Based in Salt Lake City, Zions Bancorporation (NASDAQ:ZION) is a regional bank with operations across 11 states. The hedge fund raised its stake value in Zions Bancorporation (NASDAQ:ZION) by 95% during Q2 2022, taking the number of shares held to 684,646.

On September 14, Jennifer Demba, who is an analyst at Truist, increased his price target on Zions Bancorporation (NASDAQ:ZION). Since the U.S Fed is continuing to raise interest rates, the analyst believes that the stocks of banks will become more attractive. Hence he has maintained a Buy rating on the stock with a higher target price of $66 from the previous $60.