Arizona State Retirement System boosted its stake in Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,459 shares of the bank’s stock after acquiring an additional 1,328 shares during the period. Arizona State Retirement System’s holdings in Zions Bancorporation, National Association were worth $2,087,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ZION. Jacobs Levy Equity Management Inc. lifted its position in Zions Bancorporation, National Association by 220.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,377,282 shares of the bank’s stock valued at $70,049,000 after acquiring an additional 947,358 shares during the last quarter. Vanguard Group Inc. lifted its position in Zions Bancorporation, National Association by 4.7% in the third quarter. Vanguard Group Inc. now owns 19,943,882 shares of the bank’s stock valued at $1,014,347,000 after acquiring an additional 902,141 shares during the last quarter. Victory Capital Management Inc. lifted its position in Zions Bancorporation, National Association by 7.2% in the third quarter. Victory Capital Management Inc. now owns 7,704,832 shares of the bank’s stock valued at $391,868,000 after acquiring an additional 516,551 shares during the last quarter. First Trust Advisors LP lifted its position in Zions Bancorporation, National Association by 85.1% in the first quarter. First Trust Advisors LP now owns 933,128 shares of the bank’s stock valued at $61,176,000 after acquiring an additional 429,080 shares during the last quarter. Finally, Martingale Asset Management L P lifted its position in Zions Bancorporation, National Association by 537.8% in the third quarter. Martingale Asset Management L P now owns 507,363 shares of the bank’s stock valued at $25,806,000 after acquiring an additional 427,820 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on ZION shares. StockNews.com cut shares of Zions Bancorporation, National Association from a “hold” rating to a “sell” rating in a research report on Thursday, April 20th. Truist Financial reduced their target price on shares of Zions Bancorporation, National Association from $59.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, March 23rd. Morgan Stanley reduced their target price on shares of Zions Bancorporation, National Association from $59.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. Keefe, Bruyette & Woods reduced their target price on shares of Zions Bancorporation, National Association from $56.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Zions Bancorporation, National Association from $58.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.32.
Zions Bancorporation, National Association Stock Performance
Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last announced its quarterly earnings data on Wednesday, April 19th. The bank reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.18). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $844.33 million. Zions Bancorporation, National Association had a net margin of 24.41% and a return on equity of 19.48%. During the same period in the previous year, the company posted $1.27 EPS. On average, sell-side analysts predict that Zions Bancorporation, National Association will post 5.18 EPS for the current year.
Zions Bancorporation, National Association Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 18th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend is Wednesday, May 17th. Zions Bancorporation, National Association’s dividend payout ratio is currently 27.99%.
Insiders Place Their Bets
In related news, EVP Rebecca K. Robinson purchased 10,000 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were bought at an average price of $20.38 per share, with a total value of $203,800.00. Following the completion of the purchase, the executive vice president now directly owns 10,360 shares in the company, valued at approximately $211,136.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson acquired 10,000 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was bought at an average price of $20.38 per share, with a total value of $203,800.00. Following the completion of the transaction, the executive vice president now directly owns 10,360 shares of the company’s stock, valued at $211,136.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Scott J. Mclean acquired 37,000 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was acquired at an average cost of $27.44 per share, with a total value of $1,015,280.00. Following the transaction, the president now directly owns 104,540 shares of the company’s stock, valued at $2,868,577.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 105,000 shares of company stock valued at $2,611,040 over the last quarter. Company insiders own 1.81% of the company’s stock.
About Zions Bancorporation, National Association
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.
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