Texas Permanent School Fund Grows Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Texas Permanent School Fund grew its position in Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) by 1.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,992 shares of the bank’s stock after buying an additional 325 shares during the quarter. Texas Permanent School Fund’s holdings in Zions Bancorporation, National Association were worth $1,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ZION. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Zions Bancorporation, National Association by 0.8% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 38,265 shares of the bank’s stock worth $1,948,000 after buying an additional 315 shares in the last quarter. FORA Capital LLC purchased a new position in Zions Bancorporation, National Association during the first quarter worth approximately $634,000. Treasurer of the State of North Carolina lifted its position in Zions Bancorporation, National Association by 2.1% during the first quarter. Treasurer of the State of North Carolina now owns 57,031 shares of the bank’s stock worth $3,739,000 after buying an additional 1,147 shares in the last quarter. Versor Investments LP purchased a new position in Zions Bancorporation, National Association during the first quarter worth approximately $682,000. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in Zions Bancorporation, National Association by 8.4% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,475 shares of the bank’s stock worth $293,000 after buying an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $52.05, for a total transaction of $123,774.90. Following the completion of the sale, the vice president now directly owns 15,172 shares of the company’s stock, valued at approximately $789,702.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 14,774 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $49.82, for a total transaction of $736,040.68. Following the completion of the sale, the vice president now directly owns 14,530 shares of the company’s stock, valued at approximately $723,884.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $52.05, for a total value of $123,774.90. Following the sale, the vice president now directly owns 15,172 shares of the company’s stock, valued at $789,702.60. The disclosure for this sale can be found here. 1.81% of the stock is currently owned by insiders.

Zions Bancorporation, National Association Trading Down 0.2 %

ZION opened at $50.68 on Friday. Zions Bancorporation, National Association has a 12 month low of $46.58 and a 12 month high of $75.44. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 1.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.72 and a quick ratio of 0.72. The business has a fifty day moving average price of $52.39 and a 200 day moving average price of $53.60.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last released its earnings results on Monday, October 24th. The bank reported $1.40 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.18). Zions Bancorporation, National Association had a return on equity of 14.98% and a net margin of 26.92%. The company had revenue of $838.00 million for the quarter, compared to analyst estimates of $816.01 million. During the same period in the previous year, the firm earned $1.45 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts expect that Zions Bancorporation, National Association will post 5.63 earnings per share for the current fiscal year.

Zions Bancorporation, National Association announced that its board has authorized a stock buyback plan on Friday, July 29th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the bank to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 10th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.64 annualized dividend and a yield of 3.24%. Zions Bancorporation, National Association’s payout ratio is 30.94%.

Analysts Set New Price Targets

A number of brokerages recently commented on ZION. Piper Sandler reduced their price objective on Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. Keefe, Bruyette & Woods cut Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $77.00 to $72.00 in a research note on Thursday, October 6th. B. Riley cut their target price on Zions Bancorporation, National Association from $60.00 to $55.00 in a research note on Wednesday, July 27th. Wedbush cut their target price on Zions Bancorporation, National Association from $61.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, October 25th. Finally, UBS Group raised their target price on Zions Bancorporation, National Association to $65.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and a consensus price target of $62.31.

About Zions Bancorporation, National Association

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.

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

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