New York State Teachers Retirement System Sells 7,600 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• The New York State Teachers Retirement System has reduced its stake in Zions Bancorporation, N.A. by 5.1%, selling 7,600 shares to hold 140,472 shares valued at $7.3 million.
• Brokerages have varying ratings on Zions Bancorporation; Royal Bank of Canada raised its target price from $57 to $62, while Zacks downgraded it from "strong-buy" to "hold."
• Zions Bancorporation recently increased its quarterly dividend to $0.45 per share, reflecting an annualized rate of $1.80 with a yield of 3.6%.

New York State Teachers Retirement System lessened its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,472 shares of the bank's stock after selling 7,600 shares during the period. New York State Teachers Retirement System owned about 0.10% of Zions Bancorporation, N.A. worth $7,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZION. GAMMA Investing LLC grew its position in shares of Zions Bancorporation, N.A. by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 11,049 shares of the bank's stock valued at $551,000 after acquiring an additional 1,535 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Zions Bancorporation, N.A. by 61.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 70,936 shares of the bank's stock valued at $3,537,000 after acquiring an additional 27,001 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Zions Bancorporation, N.A. by 1,266.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,703 shares of the bank's stock valued at $185,000 after acquiring an additional 3,432 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $3,383,000. Finally, State of Alaska Department of Revenue grew its position in shares of Zions Bancorporation, N.A. by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 17,318 shares of the bank's stock valued at $863,000 after acquiring an additional 470 shares during the period. Institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZION. Royal Bank Of Canada lifted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Zacks Research downgraded shares of Zions Bancorporation, N.A. from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Zions Bancorporation, N.A. in a report on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an "equal weight" rating in a report on Monday, September 29th. Finally, Truist Financial lifted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $61.33.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION opened at $49.67 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $7.33 billion, a P/E ratio of 9.08, a P/E/G ratio of 1.07 and a beta of 0.93. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The firm has a 50-day moving average price of $55.87 and a two-hundred day moving average price of $51.56.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. The firm had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. Analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s dividend payout ratio is presently 32.91%.

About Zions Bancorporation, N.A.

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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