Retirement Systems of Alabama Buys 372 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION)

Retirement Systems of Alabama boosted its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 0.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 179,977 shares of the bank’s stock after acquiring an additional 372 shares during the quarter. Retirement Systems of Alabama’s holdings in Zions Bancorporation, N.A. were worth $8,974,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ZION. Curat Global LLC purchased a new position in Zions Bancorporation, N.A. during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in Zions Bancorporation, N.A. by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after buying an additional 183 shares during the period. Covestor Ltd increased its holdings in Zions Bancorporation, N.A. by 128.1% during the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after buying an additional 479 shares during the period. SRS Capital Advisors Inc. increased its holdings in Zions Bancorporation, N.A. by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after buying an additional 493 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new position in Zions Bancorporation, N.A. during the first quarter valued at approximately $50,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on ZION shares. Truist Financial started coverage on shares of Zions Bancorporation, N.A. in a report on Tuesday, May 13th. They set a “hold” rating and a $52.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Keefe, Bruyette & Woods cut their price target on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd. Argus raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Monday, April 28th. Finally, Wall Street Zen raised shares of Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.94.

Zions Bancorporation, N.A. Price Performance

Shares of ZION opened at $49.47 on Tuesday. The firm has a market capitalization of $7.30 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.59 and a beta of 0.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The company’s fifty day moving average price is $47.00 and its 200-day moving average price is $50.92.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. During the same period in the previous year, the company earned $0.96 earnings per share. On average, equities research analysts predict that Zions Bancorporation, N.A. will post 5.39 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 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Thursday, May 15th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 33.59%.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, N.A. Company 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.