New York State Teachers Retirement System Has $6.79 Million Stake in Zions Bancorporation, N.A. $ZION

New York State Teachers Retirement System trimmed its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 16.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,752 shares of the bank’s stock after selling 22,620 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Zions Bancorporation, N.A. worth $6,785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Signaturefd LLC raised its position in Zions Bancorporation, N.A. by 17.1% in the 4th quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock valued at $70,000 after buying an additional 174 shares during the last quarter. Michels Family Financial LLC boosted its position in Zions Bancorporation, N.A. by 1.5% during the 4th quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock worth $711,000 after acquiring an additional 185 shares during the last quarter. C M Bidwell & Associates Ltd. grew its stake in shares of Zions Bancorporation, N.A. by 13.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after acquiring an additional 185 shares in the last quarter. Alta Capital Management LLC grew its stake in shares of Zions Bancorporation, N.A. by 0.7% during the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock worth $1,630,000 after acquiring an additional 203 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Zions Bancorporation, N.A. by 3.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 7,886 shares of the bank’s stock valued at $462,000 after purchasing an additional 240 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on ZION. Stephens assumed coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, June 15th. They issued an “overweight” rating and a $79.00 target price for the company. DA Davidson increased their price objective on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company raised their price objective on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank Of Canada upped their target price on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 21st. Finally, Truist Financial raised their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.82.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock traded up $0.16 during mid-day trading on Tuesday, hitting $70.76. 100,730 shares of the company’s stock traded hands, compared to its average volume of 1,717,399. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $64.29 and a two-hundred day simple moving average of $61.10. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $71.26. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 2.22 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same period in the previous year, the company earned $1.13 earnings per share. On average, research analysts expect that Zions Bancorporation, N.A. will post 6.48 EPS for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $0.45 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.

Zions Bancorporation, N.A. announced that its board has authorized a stock buyback program on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

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.