New York State Common Retirement Fund Has $3.21 Million Stake in Zions Bancorporation, N.A. (NASDAQ:ZION)

New York State Common Retirement Fund reduced its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,358 shares of the bank's stock after selling 7,900 shares during the quarter. New York State Common Retirement Fund's holdings in Zions Bancorporation, N.A. were worth $3,209,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ZION. Norges Bank acquired a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at $73,542,000. Balyasny Asset Management L.P. raised its position in Zions Bancorporation, N.A. by 249.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after buying an additional 1,159,888 shares during the period. Freestone Grove Partners LP acquired a new position in Zions Bancorporation, N.A. in the 4th quarter worth about $51,116,000. GAMMA Investing LLC increased its position in Zions Bancorporation, N.A. by 5,690.4% in the 1st quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock worth $27,468,000 after purchasing an additional 541,389 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Zions Bancorporation, N.A. by 20.8% during the 4th quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after acquiring an additional 390,601 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ZION shares. Stephens decreased their target price on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and increased their target price for the stock from $45.00 to $60.00 in a report on Tuesday. DA Davidson raised their price target on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday. Robert W. Baird increased their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION traded up $0.20 during trading on Friday, reaching $55.38. 1,806,946 shares of the company's stock were exchanged, compared to its average volume of 1,588,781. The business has a 50 day moving average price of $51.21 and a 200-day moving average price of $50.82. The stock has a market capitalization of $8.17 billion, a P/E ratio of 10.12, a PEG ratio of 1.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 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 issued its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.27. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. The business had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. During the same period in the previous year, the company posted $1.28 earnings per share. Sell-side analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share 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 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.11%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 31.44%.

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.