J.W. Cole Advisors Inc. Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

J.W. Cole Advisors Inc. bought a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,132 shares of the bank’s stock, valued at approximately $336,000.

Several other large investors also recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Zions Bancorporation, National Association by 4.5% during the 1st quarter. Victory Capital Management Inc. now owns 7,459,316 shares of the bank’s stock worth $486,109,000 after purchasing an additional 322,397 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Zions Bancorporation, National Association by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,275,610 shares of the bank’s stock valued at $280,322,000 after acquiring an additional 43,151 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,041,099 shares of the bank’s stock valued at $199,375,000 after acquiring an additional 101,901 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Zions Bancorporation, National Association by 7.3% in the 1st quarter. King Luther Capital Management Corp now owns 1,977,773 shares of the bank’s stock valued at $129,663,000 after acquiring an additional 134,399 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Zions Bancorporation, National Association by 1.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,495,689 shares of the bank’s stock valued at $98,057,000 after acquiring an additional 20,142 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ZION. Piper Sandler dropped their price objective on shares of Zions Bancorporation, National Association to $66.00 in a report on Monday, July 4th. The Goldman Sachs Group dropped their price objective on shares of Zions Bancorporation, National Association from $75.00 to $61.50 and set a “neutral” rating on the stock in a report on Tuesday, May 31st. Jefferies Financial Group dropped their price objective on shares of Zions Bancorporation, National Association from $69.00 to $63.00 in a report on Monday, July 11th. Truist Financial increased their price target on shares of Zions Bancorporation, National Association from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. Finally, Barclays lowered their price target on shares of Zions Bancorporation, National Association from $81.00 to $71.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.38.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $57.70 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.70 and a current ratio of 0.70. The company has a fifty day moving average of $55.39 and a two-hundred day moving average of $57.42. The stock has a market capitalization of $8.68 billion, a PE ratio of 10.79, a P/E/G ratio of 2.50 and a beta of 1.24. Zions Bancorporation, National Association has a fifty-two week low of $47.92 and a fifty-two week high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The bank reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.06). Zions Bancorporation, National Association had a return on equity of 13.53% and a net margin of 29.21%. During the same quarter last year, the firm earned $2.08 EPS. As a group, research analysts forecast that Zions Bancorporation, National Association will post 5.94 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 18th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.84%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 17th. Zions Bancorporation, National Association’s dividend payout ratio is 30.65%.

Zions Bancorporation, National Association announced that its Board of Directors has approved a share buyback plan on Friday, July 29th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the bank to repurchase up to 0.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, VP Mark Richard Young sold 4,775 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $56.34, for a total value of $269,023.50. Following the completion of the sale, the vice president now directly owns 11,646 shares in the company, valued at $656,135.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Terry Alan Shirey sold 4,448 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $56.40, for a total value of $250,867.20. Following the completion of the sale, the executive vice president now directly owns 21,469 shares in the company, valued at $1,210,851.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Richard Young sold 4,775 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $56.34, for a total transaction of $269,023.50. Following the completion of the sale, the vice president now owns 11,646 shares of the company’s stock, valued at $656,135.64. The disclosure for this sale can be found here. Insiders sold 12,666 shares of company stock worth $722,270 over the last three months. Insiders own 1.81% of the company’s stock.

Zions Bancorporation, National Association Profile

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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.

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

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