New York State Teachers Retirement System Sells 22,620 Shares of Zions Bancorporation, N.A. $ZION

New York State Teachers Retirement System lowered its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 16.1% in the first quarter, Holdings Channel reports. The institutional investor owned 117,752 shares of the bank’s stock after selling 22,620 shares during the period. New York State Teachers Retirement System’s holdings in Zions Bancorporation, N.A. were worth $6,785,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Torren Management LLC bought a new position in Zions Bancorporation, N.A. during the fourth quarter worth about $32,000. Leonteq Securities AG acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter worth about $32,000. Community Bank N.A. bought a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at about $36,000. Atlas Capital Advisors Inc. acquired a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $42,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZION shares. Stephens started coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, June 15th. They issued an “overweight” rating and a $79.00 price target for the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $68.00 price objective on shares of Zions Bancorporation, N.A. in a report on Tuesday, June 23rd. Royal Bank Of Canada upped their target price on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 21st. Piper Sandler reduced their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Truist Financial raised their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of “Hold” and a consensus target price of $67.82.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.43% of the stock is owned by corporate insiders.

Zions Bancorporation, N.A. Price Performance

NASDAQ ZION traded up $0.16 during trading on Tuesday, hitting $70.76. 100,730 shares of the company’s stock were exchanged, compared to its average volume of 1,717,399. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The company has a market cap of $10.41 billion, a PE ratio of 11.01, a P/E/G ratio of 2.22 and a beta of 0.80. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $71.26. The stock’s 50 day moving average price is $64.29 and its two-hundred day moving average price is $61.10.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same period last year, the company posted $1.13 EPS. Research analysts expect that Zions Bancorporation, N.A. will post 6.48 EPS for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 2.5%. Zions Bancorporation, N.A.’s dividend payout ratio is presently 27.99%.

Zions Bancorporation, N.A. announced that its board has authorized a stock buyback plan on Saturday, May 2nd that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.