Panagora Asset Management Inc. Sells 48,861 Shares of Zions Bancorporation, N.A. $ZION

Panagora Asset Management Inc. decreased its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 12.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 334,686 shares of the bank’s stock after selling 48,861 shares during the quarter. Panagora Asset Management Inc. owned about 0.23% of Zions Bancorporation, N.A. worth $17,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Zions Bancorporation, N.A. by 15.0% in the second quarter. Nordea Investment Management AB now owns 256,710 shares of the bank’s stock worth $13,349,000 after buying an additional 33,449 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $814,000. Ground Swell Capital LLC bought a new position in Zions Bancorporation, N.A. in the 1st quarter valued at $312,000. Russell Investments Group Ltd. raised its stake in Zions Bancorporation, N.A. by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 68,516 shares of the bank’s stock valued at $3,416,000 after purchasing an additional 4,876 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Zions Bancorporation, N.A. during the second quarter worth approximately $452,000. 76.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore ISI lifted their price objective on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Weiss Ratings lowered shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Baird R W upgraded Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Morgan Stanley raised their target price on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Zions Bancorporation, N.A. from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and an average price target of $61.29.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $54.08 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.98 billion, a P/E ratio of 9.69, a P/E/G ratio of 0.85 and a beta of 0.96. The business’s 50 day moving average price is $53.21 and its 200-day moving average price is $53.12. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $60.71.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. The business had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. Equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, November 13th. This represents a $1.80 annualized dividend and a yield of 3.3%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 32.26%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $53.11, for a total transaction of $130,544.38. Following the completion of the transaction, the executive vice president directly owned 27,133 shares of the company’s stock, valued at $1,441,033.63. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.22% of the stock is currently owned by insiders.

Zions Bancorporation, N.A. 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.