Crossmark Global Holdings Inc. Decreases Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Posted by MarketBeat News on Jan 23rd, 2023

Crossmark Global Holdings Inc. trimmed its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,818 shares of the bank’s stock after selling 556 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Zions Bancorporation, National Association were worth $449,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in Zions Bancorporation, National Association by 39.6% during the third quarter. Parkside Financial Bank & Trust now owns 1,328 shares of the bank’s stock worth $68,000 after purchasing an additional 377 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Zions Bancorporation, National Association by 35.6% in the third quarter. Great West Life Assurance Co. Can now owns 38,266 shares of the bank’s stock valued at $1,945,000 after acquiring an additional 10,046 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Zions Bancorporation, National Association by 18.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,425 shares of the bank’s stock valued at $2,971,000 after acquiring an additional 9,296 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Zions Bancorporation, National Association in the third quarter valued at $50,000. Finally, Dupont Capital Management Corp lifted its position in shares of Zions Bancorporation, National Association by 1.2% in the third quarter. Dupont Capital Management Corp now owns 58,547 shares of the bank’s stock valued at $2,978,000 after acquiring an additional 708 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZION. Compass Point reduced their price objective on Zions Bancorporation, National Association to $60.00 in a research report on Thursday, October 20th. Wolfe Research lowered Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 2nd. Barclays lowered Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $68.00 to $59.00 in a research note on Tuesday, January 3rd. StockNews.com initiated coverage on Zions Bancorporation, National Association in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Stephens dropped their target price on Zions Bancorporation, National Association from $61.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average target price of $60.42.

Insider Activity

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In other news, VP Thomas E. Laursen sold 880 shares of the stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $51.79, for a total value of $45,575.20. Following the completion of the sale, the vice president now owns 27,007 shares in the company, valued at $1,398,692.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Zions Bancorporation, National Association news, SVP James R. Abbott purchased 2,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Thursday, November 17th. The stock was purchased 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 owns 79,918 shares of the company’s stock, valued at approximately $4,031,863.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas E. Laursen sold 880 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $51.79, for a total value of $45,575.20. Following the completion of the transaction, the vice president now directly owns 27,007 shares of the company’s stock, valued at approximately $1,398,692.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,032 shares of company stock worth $905,391. 1.81% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ:ZION opened at $51.48 on Monday. The firm has a market capitalization of $7.70 billion, a PE ratio of 9.71, a P/E/G ratio of 2.69 and a beta of 1.15. 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 50-day moving average of $49.69 and a two-hundred day moving average of $52.18. Zions Bancorporation, National Association has a 12 month low of $45.21 and a 12 month high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last posted its earnings results on Monday, October 24th. The bank reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.18). Zions Bancorporation, National Association had a net margin of 26.92% and a return on equity of 14.98%. The company had revenue of $838.00 million during the quarter, compared to analyst estimates of $816.01 million. During the same quarter last year, the business posted $1.45 EPS. Zions Bancorporation, National Association’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts forecast that Zions Bancorporation, National Association will post 5.6 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 10th were paid a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.19%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 30.94%.

Zions Bancorporation, National Association declared that its Board of Directors has approved a share repurchase plan on Friday, October 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the bank to reacquire up to 0.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.