Bank of New York Mellon Corp Has $68.38 Million Stock Holdings in Zions Bancorporation, N.A. (NASDAQ:ZION)

Bank of New York Mellon Corp reduced its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,371,385 shares of the bank's stock after selling 25,098 shares during the period. Bank of New York Mellon Corp owned 0.93% of Zions Bancorporation, N.A. worth $68,377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Zions Bancorporation, N.A. by 0.6% during the 4th quarter. Victory Capital Management Inc. now owns 151,515 shares of the bank's stock worth $8,220,000 after buying an additional 864 shares during the period. Proficio Capital Partners LLC acquired a new stake in Zions Bancorporation, N.A. during the 4th quarter worth $4,237,000. Raymond James Financial Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $7,739,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Zions Bancorporation, N.A. by 12.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,062 shares of the bank's stock valued at $2,011,000 after purchasing an additional 4,007 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth $150,000. Institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

ZION has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Zions Bancorporation, N.A. in a report on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 price target for the company. Wells Fargo & Company dropped their target price on shares of Zions Bancorporation, N.A. from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Argus upgraded shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a report on Monday, April 28th. Stephens dropped their price objective on shares of Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup upped their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $57.50.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $56.20 on Friday. The business has a fifty day moving average price of $49.56 and a two-hundred day moving average price of $50.76. The stock has a market capitalization of $8.29 billion, a PE ratio of 10.98, a P/E/G ratio of 1.83 and a beta of 0.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, N.A. had a return on equity of 13.53% and a net margin of 16.08%. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.06%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is currently 33.59%.

Zions Bancorporation, N.A. Profile

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.

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