abrdn plc Purchases 2,777 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Posted by Defense World Staff on May 25th, 2023

abrdn plc raised its position in Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,990 shares of the bank’s stock after purchasing an additional 2,777 shares during the quarter. abrdn plc’s holdings in Zions Bancorporation, National Association were worth $1,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of 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 worth $1,014,347,000 after buying an additional 902,141 shares during the last quarter. State Street Corp boosted its position in Zions Bancorporation, National Association by 4.4% during the third quarter. State Street Corp now owns 7,299,350 shares of the bank’s stock worth $371,245,000 after acquiring an additional 304,725 shares during the last quarter. LSV Asset Management raised its stake in Zions Bancorporation, National Association by 16.2% during the fourth quarter. LSV Asset Management now owns 4,719,478 shares of the bank’s stock worth $232,010,000 after purchasing an additional 656,756 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Zions Bancorporation, National Association by 3.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,413,092 shares of the bank’s stock worth $224,450,000 after purchasing an additional 162,464 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Zions Bancorporation, National Association by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,041,099 shares of the bank’s stock valued at $199,375,000 after acquiring an additional 101,901 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZION. Argus cut their target price on shares of Zions Bancorporation, National Association from $65.00 to $43.00 in a research note on Monday, April 24th. Morgan Stanley lowered 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. Royal Bank of Canada reduced their price target on shares of Zions Bancorporation, National Association from $47.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, April 20th. Truist Financial cut their price objective on shares of Zions Bancorporation, National Association from $59.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, March 23rd. Finally, Hovde Group began coverage on shares of Zions Bancorporation, National Association in a research report on Monday. They set an “outperform” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average target price of $46.00.

Insiders Place Their Bets

In related news, EVP Rebecca K. Robinson purchased 10,000 shares of the stock in a transaction on Thursday, May 4th. The shares were purchased at an average price of $20.38 per share, with a total value of $203,800.00. Following the transaction, the executive vice president now directly owns 10,360 shares of the company’s stock, valued at $211,136.80. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Zions Bancorporation, National Association news, Director Claire A. Huang bought 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were acquired at an average cost of $20.02 per share, with a total value of $360,360.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $360,360. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rebecca K. Robinson bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were acquired at an average cost of $20.38 per share, for a total transaction of $203,800.00. Following the completion of the acquisition, the executive vice president now directly owns 10,360 shares in the company, valued at approximately $211,136.80. The disclosure for this purchase can be found here. Insiders have purchased 105,000 shares of company stock valued at $2,611,040 in the last 90 days. 1.99% of the stock is currently owned by insiders.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $28.97 on Thursday. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.86 and a quick ratio of 0.86. Zions Bancorporation, National Association has a 52-week low of $18.26 and a 52-week high of $59.75. The firm has a market capitalization of $4.29 billion, a P/E ratio of 4.94, a P/E/G ratio of 5.60 and a beta of 1.10. The stock has a fifty day moving average price of $27.93 and a two-hundred day moving average price of $42.05.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The bank reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.18). Zions Bancorporation, National Association had a net margin of 24.41% and a return on equity of 19.48%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $844.33 million. During the same quarter last year, the firm earned $1.27 EPS. As a group, analysts anticipate that Zions Bancorporation, National Association will post 5.2 EPS for the current fiscal 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 given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend is Wednesday, May 17th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 27.99%.

About Zions Bancorporation, National Association

(Get Rating)

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.