Zions Bancorporation, N.A. $ZION Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC significantly reduced its position in Zions Bancorporation, N.A. by 90.1%, selling 61,159 shares in the 2nd quarter.
• Zions Bancorporation announced a quarterly dividend of $0.45, an increase from its previous $0.43 dividend, reflecting a 3.6% yield on an annualized basis.
• Various institutional investors, including Picton Mahoney Asset Management and Bridge Generations Wealth Management, have recently purchased stakes, contributing to institutional ownership of 76.84% in the company.

Janney Montgomery Scott LLC trimmed its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 90.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,686 shares of the bank's stock after selling 61,159 shares during the period. Janney Montgomery Scott LLC's holdings in Zions Bancorporation, N.A. were worth $347,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new stake in Zions Bancorporation, N.A. in the 1st quarter worth about $25,000. New Age Alpha Advisors LLC acquired a new stake in Zions Bancorporation, N.A. in the 1st quarter worth about $40,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Zions Bancorporation, N.A. in the 1st quarter worth about $52,000. Bridge Generations Wealth Management LLC purchased a new position in Zions Bancorporation, N.A. in the 1st quarter worth approximately $65,000. Finally, Virtus Advisers LLC purchased a new position in Zions Bancorporation, N.A. in the 1st quarter worth approximately $80,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Up 5.8%

Shares of NASDAQ ZION opened at $49.67 on Monday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.07 and a beta of 0.93. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22. The business's 50 day moving average is $55.87 and its two-hundred day moving average is $51.56.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. The company had revenue of $705.00 million for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. Research analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS 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. Shareholders of record on Thursday, August 14th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.6%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 32.91%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Baird R W raised shares of Zions Bancorporation, N.A. from a "hold" rating to a "strong-buy" rating in a research note on Friday. Piper Sandler reduced their price target on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a "neutral" rating on the stock in a research report on Thursday. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price target for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Finally, DA Davidson lifted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $61.33.

Zions Bancorporation, N.A. Company 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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