Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 1.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,836 shares of the bank’s stock after selling 357 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Zions Bancorporation, National Association were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new position in Zions Bancorporation, National Association during the second quarter worth approximately $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Zions Bancorporation, National Association in the 1st quarter valued at approximately $30,000. Albion Financial Group UT grew its stake in shares of Zions Bancorporation, National Association by 130.2% in the 2nd quarter. Albion Financial Group UT now owns 1,105 shares of the bank’s stock valued at $30,000 after purchasing an additional 625 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Zions Bancorporation, National Association in the 1st quarter valued at approximately $31,000. Finally, Desjardins Global Asset Management Inc. grew its stake in shares of Zions Bancorporation, National Association by 263.7% in the 2nd quarter. Desjardins Global Asset Management Inc. now owns 1,713 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,242 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ZION shares. Morgan Stanley downgraded Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $27.00 to $32.00 in a research note on Wednesday, September 27th. Piper Sandler lowered their target price on Zions Bancorporation, National Association from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, October 23rd. Evercore ISI decreased their price target on Zions Bancorporation, National Association from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, September 22nd. Wedbush restated a “neutral” rating and issued a $37.00 price target on shares of Zions Bancorporation, National Association in a research note on Thursday, October 19th. Finally, Royal Bank of Canada lifted their price target on Zions Bancorporation, National Association from $37.00 to $38.00 in a research note on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.21.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock opened at $35.78 on Tuesday. The stock has a fifty day moving average price of $33.88 and a 200 day moving average price of $32.31. The stock has a market cap of $5.30 billion, a PE ratio of 6.61, a P/E/G ratio of 7.59 and a beta of 1.15. Zions Bancorporation, National Association has a 1 year low of $18.26 and a 1 year high of $55.19. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Wednesday, October 18th. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Zions Bancorporation, National Association had a return on equity of 17.72% and a net margin of 18.94%. The company had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $764.26 million. During the same period in the previous year, the firm posted $1.40 earnings per share. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Sell-side analysts forecast that Zions Bancorporation, National Association will post 4.66 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 9th were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.58%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 30.31%.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.