Retirement Systems of Alabama Sells 845 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Retirement Systems of Alabama decreased its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,651 shares of the bank’s stock after selling 845 shares during the quarter. Retirement Systems of Alabama’s holdings in Zions Bancorporation, National Association were worth $1,432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ZION. Federated Hermes Inc. boosted its position in Zions Bancorporation, National Association by 105.4% during the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock valued at $28,000 after acquiring an additional 331 shares during the last quarter. Versant Capital Management Inc lifted its stake in Zions Bancorporation, National Association by 4,613.3% in the fourth quarter. Versant Capital Management Inc now owns 2,121 shares of the bank’s stock valued at $93,000 after buying an additional 2,076 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Zions Bancorporation, National Association by 15.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,497 shares of the bank’s stock worth $122,000 after buying an additional 469 shares during the period. EMC Capital Management bought a new position in Zions Bancorporation, National Association during the third quarter worth $126,000. Finally, Covestor Ltd grew its holdings in Zions Bancorporation, National Association by 22.7% in the third quarter. Covestor Ltd now owns 4,367 shares of the bank’s stock worth $152,000 after purchasing an additional 809 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 7,500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $40.81, for a total value of $306,075.00. Following the transaction, the executive vice president now directly owns 44,056 shares in the company, valued at approximately $1,797,925.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Mark Richard Young sold 5,597 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.21, for a total transaction of $225,055.37. Following the transaction, the vice president now directly owns 12,133 shares in the company, valued at approximately $487,867.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven Dan Stephens sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $40.81, for a total value of $306,075.00. Following the completion of the sale, the executive vice president now owns 44,056 shares of the company’s stock, valued at approximately $1,797,925.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,888 shares of company stock valued at $827,655. Company insiders own 2.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ZION shares. Stephens lifted their price objective on shares of Zions Bancorporation, National Association from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Zions Bancorporation, National Association in a report on Wednesday, April 10th. They set a “hold” rating and a $47.00 price objective on the stock. Evercore ISI increased their target price on shares of Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Wedbush cut their price target on shares of Zions Bancorporation, National Association from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Finally, UBS Group reduced their price objective on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.16.

Zions Bancorporation, National Association Price Performance

ZION opened at $44.13 on Thursday. The firm has a 50-day moving average price of $41.43 and a 200-day moving average price of $39.84. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 11.09 and a beta of 1.13. Zions Bancorporation, National Association has a twelve month low of $21.96 and a twelve month high of $46.15. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Friday, April 26th. The bank reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same quarter in the prior year, the company earned $1.33 earnings per share. Equities analysts expect that Zions Bancorporation, National Association will post 4.38 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be given a $0.41 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.72%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.