Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,836 shares of the bank’s stock after selling 357 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Zions Bancorporation, National Association were worth $828,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Desjardins Global Asset Management Inc. lifted its holdings in Zions Bancorporation, National Association by 263.7% in the second quarter. Desjardins Global Asset Management Inc. now owns 1,713 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,242 shares during the period. WBI Investments Inc. acquired a new position in Zions Bancorporation, National Association in the second quarter valued at approximately $394,000. Envestnet Asset Management Inc. lifted its holdings in Zions Bancorporation, National Association by 89.2% in the second quarter. Envestnet Asset Management Inc. now owns 62,887 shares of the bank’s stock valued at $1,689,000 after acquiring an additional 29,649 shares during the period. Cibc World Markets Corp lifted its holdings in Zions Bancorporation, National Association by 53.6% in the second quarter. Cibc World Markets Corp now owns 30,198 shares of the bank’s stock valued at $811,000 after acquiring an additional 10,544 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in Zions Bancorporation, National Association by 36.6% in the second quarter. Quantinno Capital Management LP now owns 11,121 shares of the bank’s stock valued at $299,000 after acquiring an additional 2,977 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZION has been the subject of several research analyst reports. Truist Financial upped their target price on Zions Bancorporation, National Association from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group upped their target price on Zions Bancorporation, National Association from $31.00 to $33.00 in a research note on Tuesday, October 10th. StockNews.com initiated coverage on Zions Bancorporation, National Association in a research note on Thursday, October 5th. They set a “sell” rating for the company. Morgan Stanley downgraded Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $27.00 to $32.00 in a research note on Wednesday, September 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $37.00 target price on shares of Zions Bancorporation, National Association in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, National Association presently has an average rating of “Hold” and a consensus target price of $38.21.

Zions Bancorporation, National Association Stock Down 0.8 %

Shares of NASDAQ:ZION opened at $35.78 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.00. The business has a fifty day moving average of $33.88 and a two-hundred day moving average of $32.31. The stock has a market cap of $5.30 billion, a P/E ratio of 6.61, a PEG ratio of 7.59 and a beta of 1.15. Zions Bancorporation, National Association has a 52-week low of $18.26 and a 52-week high of $55.19.

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

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 9th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Wednesday, November 8th. Zions Bancorporation, National Association’s dividend payout ratio is presently 30.31%.

About Zions Bancorporation, National Association

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.