Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 11.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,573 shares of the bank’s stock after selling 8,207 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Zions Bancorporation, National Association were worth $1,734,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Zions Bancorporation, National Association by 4.3% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,392 shares of the bank’s stock valued at $274,000 after acquiring an additional 221 shares in the last quarter. Crewe Advisors LLC raised its stake in Zions Bancorporation, National Association by 8.1% in the second quarter. Crewe Advisors LLC now owns 3,528 shares of the bank’s stock valued at $95,000 after buying an additional 265 shares in the last quarter. Creative Planning lifted its holdings in Zions Bancorporation, National Association by 2.5% during the 2nd quarter. Creative Planning now owns 11,260 shares of the bank’s stock worth $573,000 after buying an additional 275 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Zions Bancorporation, National Association by 10.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,028 shares of the bank’s stock worth $81,000 after buying an additional 283 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Zions Bancorporation, National Association by 30.0% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,300 shares of the bank’s stock worth $35,000 after buying an additional 300 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $36.07 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $33.86 and its two-hundred day moving average is $32.20. Zions Bancorporation, National Association has a 12-month low of $18.26 and a 12-month high of $55.19. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 7.59 and a beta of 1.15.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Wednesday, October 18th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. Zions Bancorporation, National Association had a return on equity of 17.72% and a net margin of 18.94%. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $764.26 million. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. Research analysts expect that Zions Bancorporation, National Association will post 4.66 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Thursday, November 9th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.55%. The ex-dividend date was Wednesday, November 8th. Zions Bancorporation, National Association’s payout ratio is 30.31%.

Analysts Set New Price Targets

ZION has been the subject of a number of recent analyst reports. Wedbush reaffirmed a “neutral” rating and set a $37.00 price target on shares of Zions Bancorporation, National Association in a report on Thursday, October 19th. DA Davidson lifted their price target on Zions Bancorporation, National Association from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Citigroup began coverage on Zions Bancorporation, National Association in a research report on Friday, September 29th. They set a “buy” rating and a $42.00 target price on the stock. StockNews.com began coverage on Zions Bancorporation, National Association in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Finally, Morgan Stanley cut Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $27.00 to $32.00 in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $37.89.

Zions Bancorporation, National Association Company Profile

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.