Stephens Inc. AR trimmed its stake in shares of Zions Bancorporation NA (NASDAQ:ZION) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,813 shares of the bank’s stock after selling 551 shares during the quarter. Stephens Inc. AR’s holdings in Zions Bancorporation NA were worth $2,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of ZION. Amica Retiree Medical Trust bought a new stake in shares of Zions Bancorporation NA during the second quarter valued at approximately $39,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Zions Bancorporation NA by 139.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 39,787 shares of the bank’s stock valued at $1,829,000 after acquiring an additional 23,191 shares in the last quarter. Amica Mutual Insurance Co. bought a new stake in shares of Zions Bancorporation NA during the second quarter valued at approximately $246,000. Stevens Capital Management LP increased its holdings in shares of Zions Bancorporation NA by 15.0% during the second quarter. Stevens Capital Management LP now owns 63,445 shares of the bank’s stock valued at $2,917,000 after acquiring an additional 8,283 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in shares of Zions Bancorporation NA by 24.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 24,080 shares of the bank’s stock valued at $1,108,000 after acquiring an additional 4,700 shares in the last quarter. Institutional investors own 95.25% of the company’s stock.
Shares of NASDAQ:ZION traded up $1.00 during mid-day trading on Friday, hitting $40.20. 2,268,700 shares of the company traded hands, compared to its average volume of 3,120,201. The stock has a market cap of $7.02 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.17 and a beta of 1.49. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Zions Bancorporation NA has a 12-month low of $38.08 and a 12-month high of $54.76. The stock has a 50-day moving average price of $44.18 and a two-hundred day moving average price of $46.51.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be given a $0.34 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $1.36 annualized dividend and a yield of 3.38%. This is a boost from Zions Bancorporation NA’s previous quarterly dividend of $0.30. Zions Bancorporation NA’s payout ratio is currently 33.33%.
In other Zions Bancorporation NA news, insider David E. Blackford sold 2,312 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $45.13, for a total value of $104,340.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Richard Young sold 2,386 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $43.93, for a total value of $104,816.98. The disclosure for this sale can be found here. In the last three months, insiders sold 26,615 shares of company stock worth $1,197,961. Insiders own 1.70% of the company’s stock.
Several equities research analysts have recently commented on ZION shares. SunTrust Banks decreased their price objective on Zions Bancorporation NA to $52.00 and set a “reduce” rating for the company in a report on Tuesday, July 23rd. They noted that the move was a valuation call. BMO Capital Markets cut their target price on Zions Bancorporation NA to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 23rd. Bank of America lifted their target price on Zions Bancorporation NA from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Zacks Investment Research cut Zions Bancorporation NA from a “buy” rating to a “hold” rating and set a $46.00 target price on the stock. in a research report on Thursday, June 27th. Finally, BidaskClub cut Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $52.56.
Zions Bancorporation NA Profile
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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