Amalgamated Bank Reduces Position in Zions Bancorporation, N.A. (NASDAQ:ZION)

Amalgamated Bank cut its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,624 shares of the bank’s stock after selling 2,611 shares during the quarter. Amalgamated Bank’s holdings in Zions Bancorporation, N.A. were worth $3,372,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Zions Bancorporation, N.A. in the first quarter valued at approximately $1,261,000. Artemis Investment Management LLP boosted its holdings in shares of Zions Bancorporation, N.A. by 12.6% in the 1st quarter. Artemis Investment Management LLP now owns 768,556 shares of the bank’s stock valued at $38,320,000 after acquiring an additional 85,832 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 4.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 69,770 shares of the bank’s stock valued at $3,479,000 after acquiring an additional 2,652 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in Zions Bancorporation, N.A. by 0.9% in the first quarter. HBK Sorce Advisory LLC now owns 65,741 shares of the bank’s stock valued at $3,278,000 after purchasing an additional 566 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Zions Bancorporation, N.A. by 76.3% in the first quarter. Bessemer Group Inc. now owns 11,637 shares of the bank’s stock valued at $581,000 after purchasing an additional 5,035 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Up 0.2%

ZION stock opened at $54.87 on Friday. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.71. The firm has a 50-day simple moving average of $48.53 and a 200-day simple moving average of $50.69. The stock has a market capitalization of $8.10 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.81 and a beta of 0.90.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. The firm had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same quarter in the prior year, the firm earned $0.96 EPS. Equities analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Thursday, May 15th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 33.59%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ZION shares. Wall Street Zen lowered shares of Zions Bancorporation, N.A. from a “hold” rating to a “sell” rating in a report on Saturday. Stephens lowered their target price on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley lowered their target price on Zions Bancorporation, N.A. from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Truist Financial began coverage on Zions Bancorporation, N.A. in a research report on Tuesday, May 13th. They issued a “hold” rating and a $52.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on Zions Bancorporation, N.A. from $58.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and a consensus price target of $57.22.

About Zions Bancorporation, N.A.

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.