Zions Bancorporation, National Association (NASDAQ:ZION) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama raised its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 469.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186,038 shares of the bank’s stock after purchasing an additional 153,387 shares during the period. Retirement Systems of Alabama owned 0.13% of Zions Bancorporation, National Association worth $8,074,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HB Wealth Management LLC boosted its holdings in shares of Zions Bancorporation, National Association by 16.0% in the first quarter. HB Wealth Management LLC now owns 10,396 shares of the bank’s stock valued at $451,000 after acquiring an additional 1,432 shares in the last quarter. Vest Financial LLC increased its position in shares of Zions Bancorporation, National Association by 281.5% during the 1st quarter. Vest Financial LLC now owns 20,842 shares of the bank’s stock valued at $905,000 after purchasing an additional 15,379 shares during the period. Caprock Group LLC raised its stake in shares of Zions Bancorporation, National Association by 18.4% in the 1st quarter. Caprock Group LLC now owns 7,043 shares of the bank’s stock worth $306,000 after buying an additional 1,097 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Zions Bancorporation, National Association by 4.1% during the first quarter. Commonwealth Equity Services LLC now owns 57,497 shares of the bank’s stock valued at $2,495,000 after buying an additional 2,285 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Zions Bancorporation, National Association by 197.5% during the first quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock worth $24,616,000 after acquiring an additional 376,549 shares during the period. Institutional investors own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of research reports. StockNews.com upgraded shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a report on Friday, June 28th. UBS Group reduced their target price on 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. Deutsche Bank Aktiengesellschaft assumed coverage on Zions Bancorporation, National Association in a research report on Wednesday, April 10th. They issued a “hold” rating and a $47.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Zions Bancorporation, National Association from $49.50 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada upped their price target on shares of Zions Bancorporation, National Association from $46.00 to $47.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average target price of $43.82.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at $970,911.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Alan M. Forney sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now directly owns 22,181 shares in the company, valued at $968,866.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rebecca K. Robinson sold 5,291 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,296 shares of company stock worth $319,192. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ:ZION traded down $1.06 on Friday, hitting $42.49. 1,945,380 shares of the company were exchanged, compared to its average volume of 2,411,121. 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 company’s 50 day moving average price is $42.63 and its two-hundred day moving average price is $41.96. Zions Bancorporation, National Association has a one year low of $26.69 and a one year high of $46.15. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 5.01 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.96 EPS 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 firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $747.21 million. During the same period last year, the company earned $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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Wednesday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

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.