State of Alaska Department of Revenue Cuts Position in Zions Bancorporation, N.A. $ZION

State of Alaska Department of Revenue trimmed its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 4.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,568 shares of the bank’s stock after selling 750 shares during the period. State of Alaska Department of Revenue’s holdings in Zions Bancorporation, N.A. were worth $860,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth approximately $25,000. New Age Alpha Advisors LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $40,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $52,000. CX Institutional purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $53,000. Finally, Bridge Generations Wealth Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $65,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZION has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. DA Davidson increased their price objective on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Morgan Stanley increased their price objective on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Evercore ISI increased their price objective on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, TD Cowen initiated coverage on Zions Bancorporation, N.A. in a research note on Thursday, September 25th. They set a “hold” rating and a $64.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and an average target price of $61.45.

Zions Bancorporation, N.A. Stock Down 0.1%

ZION opened at $56.87 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $55.74 and a 200-day simple moving average of $51.31. The stock has a market capitalization of $8.40 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.49 and a beta of 0.93. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22.

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

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued 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 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.’s payout ratio is presently 32.91%.

Zions Bancorporation, N.A. 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.