Vanguard Group Inc. Lowers Stock Holdings in Zions Bancorporation, N.A. $ZION

Vanguard Group Inc. lowered its stake in Zions Bancorporation, N.A. (NASDAQ:ZION) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,792,800 shares of the bank’s stock after selling 515,527 shares during the period. Vanguard Group Inc. owned 0.13% of Zions Bancorporation, N.A. worth $1,063,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its holdings in Zions Bancorporation, N.A. by 6.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank’s stock worth $115,483,000 after acquiring an additional 122,815 shares in the last quarter. LSV Asset Management raised its position in shares of Zions Bancorporation, N.A. by 4.5% in the 2nd quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock worth $205,689,000 after purchasing an additional 169,085 shares during the last quarter. Bailard Inc. bought a new position in Zions Bancorporation, N.A. in the 3rd quarter worth about $487,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Zions Bancorporation, N.A. during the 2nd quarter valued at about $452,000. Finally, Gateway Investment Advisers LLC increased its stake in Zions Bancorporation, N.A. by 156.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock valued at $4,857,000 after purchasing an additional 52,381 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

ZION has been the topic of several analyst reports. Citigroup upped their target price on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Robert W. Baird cut Zions Bancorporation, N.A. from an “outperform” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research report on Monday, February 9th. Barclays increased their target price on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Truist Financial upped their price target on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Finally, Evercore lifted their price objective on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.32.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $62.50 on Friday. The firm has a market capitalization of $9.23 billion, a P/E ratio of 10.42 and a beta of 0.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $66.18. The business has a fifty day moving average of $60.46 and a 200 day moving average of $56.58.

Zions Bancorporation, N.A. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, February 12th. Zions Bancorporation, N.A.’s payout ratio is currently 30.00%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 2,089 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $62.48, for a total value of $130,520.72. Following the transaction, the executive vice president owned 22,733 shares in the company, valued at $1,420,357.84. This represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Derek Steward sold 769 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $60.46, for a total transaction of $46,493.74. Following the sale, the executive vice president owned 14,307 shares of the company’s stock, valued at $865,001.22. This trade represents a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 55,391 shares of company stock worth $3,487,037. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.