Panagora Asset Management Inc. Invests $369,000 in Zions Bancorporation, National Association (NASDAQ:ZION)

Panagora Asset Management Inc. bought a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,406 shares of the bank’s stock, valued at approximately $369,000.

Several other hedge funds have also modified their holdings of ZION. Vaughan Nelson Investment Management L.P. lifted its stake in Zions Bancorporation, National Association by 119.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after buying an additional 1,259,571 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Zions Bancorporation, National Association by 22.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,016,407 shares of the bank’s stock valued at $220,077,000 after buying an additional 927,899 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in Zions Bancorporation, National Association in the 3rd quarter valued at about $28,113,000. Artemis Investment Management LLP purchased a new position in Zions Bancorporation, National Association in the 4th quarter valued at about $28,025,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Zions Bancorporation, National Association in the 3rd quarter valued at about $13,759,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Stock Up 1.2 %

Zions Bancorporation, National Association stock opened at $43.09 on Friday. Zions Bancorporation, National Association has a fifty-two week low of $26.35 and a fifty-two week high of $46.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a 50 day moving average price of $42.29 and a 200 day moving average price of $40.86. The company has a market capitalization of $6.36 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 4.89 and a beta of 1.13.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Friday, April 26th. The bank reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $747.21 million. During the same quarter last year, the business posted $1.33 EPS. Research analysts expect that Zions Bancorporation, National Association will post 4.37 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were given a dividend of $0.41 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.81%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 41.21%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZION. JPMorgan Chase & Co. raised their price target on shares of Zions Bancorporation, National Association from $49.50 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. UBS Group cut their price objective on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Morgan Stanley increased their price objective on shares of Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. Truist Financial reiterated a “hold” rating and issued a $46.00 price objective on shares of Zions Bancorporation, National Association in a report on Monday, April 1st. Finally, Royal Bank of Canada increased their price objective on shares of Zions Bancorporation, National Association from $46.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus price target of $43.33.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Rebecca K. Robinson sold 5,291 shares of Zions Bancorporation, National Association stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Alan M. Forney sold 1,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total value of $65,520.00. Following the completion of the sale, the chief executive officer now directly owns 22,181 shares of the company’s stock, valued at $968,866.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Rebecca K. Robinson sold 5,291 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at $970,911.08. The disclosure for this sale can be found here. In the last three months, insiders sold 7,296 shares of company stock valued at $319,192. Insiders own 2.22% of the company’s stock.

About Zions Bancorporation, National Association

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.