Zions Bancorporation, National Association (NASDAQ:ZION) Stock Holdings Cut by State of Michigan Retirement System

State of Michigan Retirement System lessened its position in Zions Bancorporation, National Association (NASDAQ:ZIONFree Report) by 10.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,400 shares of the bank’s stock after selling 4,117 shares during the period. State of Michigan Retirement System’s holdings in Zions Bancorporation, National Association were worth $1,580,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ZION. Deutsche Bank AG raised its position in Zions Bancorporation, National Association by 22.1% in the third quarter. Deutsche Bank AG now owns 389,686 shares of the bank’s stock worth $13,596,000 after acquiring an additional 70,461 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Zions Bancorporation, National Association by 55.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,262 shares of the bank’s stock worth $2,644,000 after purchasing an additional 21,551 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Zions Bancorporation, National Association by 119.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after purchasing an additional 1,259,571 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Zions Bancorporation, National Association by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,746,184 shares of the bank’s stock worth $164,345,000 after buying an additional 27,934 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Zions Bancorporation, National Association in the fourth quarter worth approximately $1,268,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, EVP Rebecca K. Robinson sold 5,291 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $43.66, for a total value of $231,005.06. Following the transaction, the executive vice president now directly owns 22,238 shares in the company, valued at $970,911.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Rebecca K. Robinson sold 5,291 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $43.66, for a total value of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at $970,911.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alan M. Forney sold 1,500 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now directly owns 22,181 shares in the company, valued at approximately $968,866.08. The disclosure for this sale can be found here. Insiders sold 7,296 shares of company stock worth $319,192 over the last ninety days. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

ZION opened at $42.49 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $6.27 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 5.01 and a beta of 1.11. The stock has a 50-day moving average of $42.64 and a 200-day moving average of $41.96. Zions Bancorporation, National Association has a 52-week low of $26.69 and a 52-week high of $46.15.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The bank reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $747.21 million. During the same quarter last year, the business earned $1.33 EPS. As a group, equities research analysts forecast that Zions Bancorporation, National Association will post 4.37 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Wednesday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio is 41.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ZION shares. Jefferies Financial Group cut their price objective on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, April 8th. UBS Group reduced their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Truist Financial reissued a “hold” rating and issued a $46.00 price target on shares of Zions Bancorporation, National Association in a research note on Monday, April 1st. StockNews.com lowered shares of Zions Bancorporation, National Association from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Zions Bancorporation, National Association in a research report on Wednesday, April 10th. They issued a “hold” rating and a $47.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.82.

Read Our Latest Analysis on ZION

About Zions Bancorporation, National Association

(Free Report)

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.

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

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