MassMutual Private Wealth & Trust FSB Sells 310 Shares of Zions Bancorporation, N.A. $ZION

MassMutual Private Wealth & Trust FSB lessened its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 3.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,092 shares of the bank’s stock after selling 310 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Zions Bancorporation, N.A. were worth $420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ZION. Curat Global LLC bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $25,000. Picton Mahoney Asset Management bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $25,000. New Age Alpha Advisors LLC bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $40,000. Princeton Global Asset Management LLC bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $52,000. Institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

ZION has been the topic of several research reports. Citigroup lifted their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada lifted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Cantor Fitzgerald initiated coverage on shares of Zions Bancorporation, N.A. in a report on Wednesday, September 10th. They set an “overweight” rating and a $64.00 price objective on the stock. Finally, DA Davidson lifted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.95.

Zions Bancorporation, N.A. Trading Up 2.9%

NASDAQ ZION opened at $59.15 on Friday. The company has a market capitalization of $8.73 billion, a PE ratio of 10.81, a P/E/G ratio of 1.50 and a beta of 0.97. The company has a fifty day moving average of $55.48 and a 200 day moving average of $50.62. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. The company had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. During the same period in the previous year, the firm posted $1.28 earnings per share. Research analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $0.45 per share. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Thursday, August 14th. Zions Bancorporation, N.A.’s payout ratio is presently 32.91%.

About Zions Bancorporation, N.A.

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.