Daiwa Securities Group Inc. Raises Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Daiwa Securities Group Inc. grew its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,970 shares of the bank’s stock after purchasing an additional 473 shares during the period. Daiwa Securities Group Inc.’s holdings in Zions Bancorporation, National Association were worth $174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Treasurer of the State of North Carolina grew its position in shares of Zions Bancorporation, National Association by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 63,896 shares of the bank’s stock worth $2,229,000 after buying an additional 330 shares in the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of Zions Bancorporation, National Association by 5.5% in the third quarter. New Mexico Educational Retirement Board now owns 7,672 shares of the bank’s stock valued at $268,000 after acquiring an additional 400 shares during the period. Avaii Wealth Management LLC boosted its holdings in shares of Zions Bancorporation, National Association by 3.7% in the third quarter. Avaii Wealth Management LLC now owns 11,602 shares of the bank’s stock valued at $405,000 after acquiring an additional 415 shares during the period. Xponance Inc. raised its stake in shares of Zions Bancorporation, National Association by 1.8% during the third quarter. Xponance Inc. now owns 25,164 shares of the bank’s stock worth $878,000 after purchasing an additional 454 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Zions Bancorporation, National Association by 2.0% during the fourth quarter. Fifth Third Bancorp now owns 23,523 shares of the bank’s stock worth $1,032,000 after purchasing an additional 462 shares during the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ZION shares. Royal Bank of Canada increased their price objective on Zions Bancorporation, National Association from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 23rd. Robert W. Baird lowered their target price on Zions Bancorporation, National Association from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Morgan Stanley upped their target price on Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. Stephens upped their target price on Zions Bancorporation, National Association from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, January 23rd. Finally, Truist Financial reaffirmed a “hold” rating and set a $46.00 price objective on shares of Zions Bancorporation, National Association in a research note on Monday, April 1st. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.16.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $41.76 on Friday. The stock’s 50-day moving average is $40.88 and its 200-day moving average is $39.38. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 10.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 12 month low of $18.26 and a 12 month high of $46.15.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Friday, April 26th. The bank reported $0.96 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.04). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same quarter in the previous year, the business posted $1.33 earnings per share. Equities analysts anticipate that Zions Bancorporation, National Association will post 4.38 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.93%. Zions Bancorporation, National Association’s payout ratio is currently 41.21%.

Insider Activity at Zions Bancorporation, National Association

In related news, CEO Harris H. Simmons bought 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $38.99 per share, for a total transaction of $140,364.00. Following the acquisition, the chief executive officer now owns 1,261,866 shares in the company, valued at approximately $49,200,155.34. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zions Bancorporation, National Association news, CEO Harris H. Simmons bought 3,600 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $38.99 per share, with a total value of $140,364.00. Following the transaction, the chief executive officer now directly owns 1,261,866 shares in the company, valued at approximately $49,200,155.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP A Scott Anderson sold 832 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $39.24, for a total transaction of $32,647.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,929 shares of company stock worth $563,778. 2.22% of the stock is currently owned by company insiders.

Zions Bancorporation, National Association 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.