Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 14,361 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Posted by Defense World Staff on May 5th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) by 24.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 72,786 shares of the bank’s stock after purchasing an additional 14,361 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Zions Bancorporation, National Association were worth $3,527,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fiduciary Alliance LLC bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth $36,000. Ronald Blue Trust Inc. grew its holdings in shares of Zions Bancorporation, National Association by 58.7% during the fourth quarter. Ronald Blue Trust Inc. now owns 800 shares of the bank’s stock worth $41,000 after purchasing an additional 296 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Zions Bancorporation, National Association by 42.3% during the fourth quarter. Allworth Financial LP now owns 958 shares of the bank’s stock worth $47,000 after purchasing an additional 285 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Zions Bancorporation, National Association by 51.5% during the first quarter. Parkside Financial Bank & Trust now owns 1,251 shares of the bank’s stock worth $83,000 after purchasing an additional 425 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Zions Bancorporation, National Association by 58.7% during the fourth quarter. Quent Capital LLC now owns 1,933 shares of the bank’s stock worth $95,000 after purchasing an additional 715 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Zions Bancorporation, National Association Trading Down 12.0 %

NASDAQ:ZION opened at $19.93 on Friday. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 3.40, a PEG ratio of 4.33 and a beta of 1.10. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $33.10 and its two-hundred day moving average price is $44.51. Zions Bancorporation, National Association has a 1-year low of $18.26 and a 1-year high of $59.75.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last released its quarterly earnings results on Wednesday, April 19th. The bank reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.18). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $844.33 million. Zions Bancorporation, National Association had a return on equity of 19.48% and a net margin of 24.41%. During the same period in the prior year, the business earned $1.27 EPS. On average, equities analysts expect that Zions Bancorporation, National Association will post 5.18 earnings per share for the current year.

Analyst Ratings Changes

ZION has been the topic of several research analyst reports. The Goldman Sachs Group decreased their target price on Zions Bancorporation, National Association from $58.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, March 30th. Piper Sandler cut their price target on Zions Bancorporation, National Association from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, April 20th. Robert W. Baird cut their price target on Zions Bancorporation, National Association from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, April 20th. Argus cut their price target on Zions Bancorporation, National Association from $65.00 to $43.00 in a research note on Monday, April 24th. Finally, Barclays cut their price target on Zions Bancorporation, National Association from $59.00 to $37.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 12th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.26.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $54.42, for a total transaction of $326,520.00. Following the sale, the executive vice president now owns 38,509 shares of the company’s stock, valued at $2,095,659.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Harris H. Simmons acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average cost of $24.16 per share, for a total transaction of $483,200.00. Following the completion of the acquisition, the chief executive officer now owns 1,274,990 shares in the company, valued at $30,803,758.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven Dan Stephens sold 6,000 shares of the stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $54.42, for a total value of $326,520.00. Following the transaction, the executive vice president now owns 38,509 shares of the company’s stock, valued at $2,095,659.78. The disclosure for this sale can be found here. Insiders have acquired a total of 77,000 shares of company stock valued at $2,046,880 over the last 90 days. 1.99% of the stock is owned by company insiders.

About Zions Bancorporation, National Association

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.