Zions Bancorporation, National Association (NASDAQ:ZION) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 6.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 36,348 shares of the bank’s stock after purchasing an additional 2,159 shares during the quarter. ProShare Advisors LLC’s holdings in Zions Bancorporation, National Association were worth $1,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of ZION. Ironwood Wealth Management LLC. lifted its stake in shares of Zions Bancorporation, National Association by 2.9% during the first quarter. Ironwood Wealth Management LLC. now owns 21,463 shares of the bank’s stock worth $1,180,000 after buying an additional 597 shares during the period. Acadian Asset Management LLC lifted its position in Zions Bancorporation, National Association by 47.9% during the first quarter. Acadian Asset Management LLC now owns 6,806 shares of the bank’s stock valued at $373,000 after purchasing an additional 2,203 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Zions Bancorporation, National Association during the first quarter valued at $694,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Zions Bancorporation, National Association by 67.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,040 shares of the bank’s stock valued at $2,000,000 after purchasing an additional 18,596 shares during the period. Finally, Brinker Capital Investments LLC acquired a new position in Zions Bancorporation, National Association during the first quarter valued at $404,000. Institutional investors and hedge funds own 82.43% of the company’s stock.

Several equities analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Zions Bancorporation, National Association from $53.00 to $59.00 and gave the company a “sector perform” rating in a report on Friday, August 27th. Truist Securities increased their price target on shares of Zions Bancorporation, National Association from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, August 30th. Piper Sandler reduced their target price on shares of Zions Bancorporation, National Association from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 20th. Jefferies Financial Group raised their price objective on shares of Zions Bancorporation, National Association from $56.00 to $68.00 and gave the company a “hold” rating in a research note on Monday. Finally, B. Riley raised their price objective on shares of Zions Bancorporation, National Association from $57.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $58.88.

Shares of NASDAQ ZION opened at $62.14 on Thursday. The company has a market cap of $10.07 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 0.59 and a beta of 1.57. Zions Bancorporation, National Association has a 12 month low of $29.83 and a 12 month high of $64.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.82. The company has a 50-day simple moving average of $58.08 and a 200-day simple moving average of $55.94.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Sunday, July 18th. The bank reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.79. Zions Bancorporation, National Association had a net margin of 38.07% and a return on equity of 15.45%. The business had revenue of $760.00 million during the quarter, compared to the consensus estimate of $712.42 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, analysts anticipate that Zions Bancorporation, National Association will post 6.59 EPS for the current year.

Zions Bancorporation, National Association announced that its board has initiated a share repurchase plan on Friday, July 23rd that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 12th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.45%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, August 11th. Zions Bancorporation, National Association’s payout ratio is presently 50.33%.

Zions Bancorporation, National Association Profile

Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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