Mutual of America Capital Management LLC Boosts Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Mutual of America Capital Management LLC grew its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) by 2.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 34,737 shares of the bank’s stock after buying an additional 965 shares during the period. Mutual of America Capital Management LLC’s holdings in Zions Bancorporation, National Association were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of Zions Bancorporation, National Association by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,275,610 shares of the bank’s stock worth $280,322,000 after acquiring an additional 43,151 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Zions Bancorporation, National Association by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,041,099 shares of the bank’s stock worth $199,375,000 after purchasing an additional 101,901 shares during the period. King Luther Capital Management Corp increased its holdings in shares of Zions Bancorporation, National Association by 7.3% in the first quarter. King Luther Capital Management Corp now owns 1,977,773 shares of the bank’s stock worth $129,663,000 after purchasing an additional 134,399 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Zions Bancorporation, National Association by 1.4% in the first quarter. The Manufacturers Life Insurance Company now owns 1,495,689 shares of the bank’s stock worth $98,057,000 after purchasing an additional 20,142 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Zions Bancorporation, National Association by 2.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,421,857 shares of the bank’s stock worth $72,370,000 after purchasing an additional 33,837 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Transactions at Zions Bancorporation, National Association

In other news, SVP James R. Abbott bought 2,000 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was bought at an average cost of $50.45 per share, for a total transaction of $100,900.00. Following the completion of the acquisition, the senior vice president now owns 79,918 shares in the company, valued at approximately $4,031,863.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 14,774 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $49.82, for a total value of $736,040.68. Following the completion of the sale, the vice president now directly owns 14,530 shares in the company, valued at $723,884.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James R. Abbott acquired 2,000 shares of the stock in a transaction on Thursday, November 17th. The stock was bought at an average price of $50.45 per share, with a total value of $100,900.00. Following the completion of the acquisition, the senior vice president now directly owns 79,918 shares of the company’s stock, valued at $4,031,863.10. The disclosure for this purchase can be found here. 1.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZION. Compass Point decreased their price target on shares of Zions Bancorporation, National Association to $60.00 in a report on Thursday, October 20th. Truist Financial upped 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. DA Davidson reduced their target price on Zions Bancorporation, National Association from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 25th. UBS Group increased their target price on Zions Bancorporation, National Association to $65.00 in a research note on Wednesday, November 16th. Finally, Piper Sandler reduced their target price on Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 25th. One 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.31.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $51.52 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $51.83 and a 200-day moving average of $53.46. The firm has a market cap of $7.71 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.86 and a beta of 1.18. Zions Bancorporation, National Association has a 1-year low of $46.58 and a 1-year high of $75.44.

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

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

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 10th were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, November 9th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.18%. Zions Bancorporation, National Association’s dividend payout ratio is currently 30.94%.

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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