Neuberger Berman Group LLC Purchases 167,513 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Neuberger Berman Group LLC boosted its position in Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) by 23.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 876,806 shares of the bank’s stock after purchasing an additional 167,513 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.58% of Zions Bancorporation, National Association worth $57,533,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Zions Bancorporation, National Association by 4.5% during the first quarter. Victory Capital Management Inc. now owns 7,459,316 shares of the bank’s stock valued at $486,109,000 after acquiring an additional 322,397 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Zions Bancorporation, National Association by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,275,610 shares of the bank’s stock valued at $280,322,000 after acquiring an additional 43,151 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Zions Bancorporation, National Association by 3.5% during the first 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 in the last quarter. King Luther Capital Management Corp increased its holdings in shares of Zions Bancorporation, National Association by 7.3% during the first quarter. King Luther Capital Management Corp now owns 1,977,773 shares of the bank’s stock valued at $129,663,000 after acquiring an additional 134,399 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Zions Bancorporation, National Association by 1.4% during the first quarter. The Manufacturers Life Insurance Company now owns 1,495,689 shares of the bank’s stock valued at $98,057,000 after acquiring an additional 20,142 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZION. B. Riley cut their price objective on shares of Zions Bancorporation, National Association from $60.00 to $55.00 in a report on Wednesday, July 27th. Truist Financial upped their target price on Zions Bancorporation, National Association from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, September 14th. Piper Sandler dropped their target price on Zions Bancorporation, National Association to $66.00 in a research report on Monday, July 4th. Wedbush upped their target price on Zions Bancorporation, National Association from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. dropped their target price on Zions Bancorporation, National Association from $75.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.38.

Zions Bancorporation, National Association Trading Down 2.2 %

Shares of ZION stock opened at $57.70 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.47 and a beta of 1.24. The stock has a 50 day simple moving average of $55.08 and a 200-day simple moving average of $57.47. Zions Bancorporation, National Association has a 1-year low of $47.92 and a 1-year high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The bank reported $1.29 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.06). Zions Bancorporation, National Association had a net margin of 29.21% and a return on equity of 13.53%. During the same period last year, the company earned $2.08 earnings per share. On average, equities research analysts expect that Zions Bancorporation, National Association will post 5.94 EPS for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 18th were paid a $0.41 dividend. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Wednesday, August 17th. Zions Bancorporation, National Association’s dividend payout ratio is currently 30.65%.

Zions Bancorporation, National Association declared that its board has authorized a share repurchase program on Friday, July 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the bank to purchase up to 0.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Zions Bancorporation, National Association

In related news, VP Mark Richard Young sold 4,775 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $56.34, for a total value of $269,023.50. Following the completion of the transaction, the vice president now directly owns 11,646 shares of the company’s stock, valued at approximately $656,135.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zions Bancorporation, National Association news, VP Mark Richard Young sold 4,775 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $56.34, for a total value of $269,023.50. Following the completion of the sale, the vice president now directly owns 11,646 shares of the company’s stock, valued at approximately $656,135.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Terry Alan Shirey sold 4,448 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $56.40, for a total value of $250,867.20. Following the completion of the sale, the executive vice president now directly owns 21,469 shares of the company’s stock, valued at $1,210,851.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,666 shares of company stock valued at $722,270. 1.81% of the stock is owned by insiders.

Zions Bancorporation, National Association Profile

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Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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