Mutual of America Capital Management LLC Lowers Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Mutual of America Capital Management LLC decreased its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 33,769 shares of the bank’s stock after selling 533 shares during the period. Mutual of America Capital Management LLC’s holdings in Zions Bancorporation, National Association were worth $2,133,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Daiwa Securities Group Inc. increased its holdings in shares of Zions Bancorporation, National Association by 14.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,454 shares of the bank’s stock valued at $92,000 after acquiring an additional 185 shares during the period. Eagle Bay Advisors LLC raised its holdings in Zions Bancorporation, National Association by 28.2% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,000 shares of the bank’s stock worth $63,000 after purchasing an additional 220 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in Zions Bancorporation, National Association by 4.0% in the third quarter. First Republic Investment Management Inc. now owns 8,738 shares of the bank’s stock worth $541,000 after purchasing an additional 336 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Zions Bancorporation, National Association by 2.7% during the third quarter. CIBC Asset Management Inc now owns 14,443 shares of the bank’s stock valued at $894,000 after buying an additional 373 shares during the last quarter. Finally, United Capital Financial Advisers LLC boosted its holdings in shares of Zions Bancorporation, National Association by 2.5% in the 3rd quarter. United Capital Financial Advisers LLC now owns 17,774 shares of the bank’s stock valued at $1,100,000 after buying an additional 436 shares in the last quarter. Institutional investors and hedge funds own 82.12% of the company’s stock.

Shares of ZION stock opened at $60.74 on Friday. Zions Bancorporation, National Association has a twelve month low of $47.06 and a twelve month high of $75.44. The stock has a market cap of $9.23 billion, a P/E ratio of 8.97 and a beta of 1.27. The stock has a 50 day moving average of $66.92 and a 200 day moving average of $65.95. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.27.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last posted its earnings results on Monday, January 24th. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. Zions Bancorporation, National Association had a net margin of 38.01% and a return on equity of 15.40%. The firm had revenue of $743.00 million during the quarter, compared to analyst estimates of $712.71 million. During the same period in the previous year, the firm earned $1.66 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that Zions Bancorporation, National Association will post 5.35 earnings per share for the current fiscal year.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share buyback plan on Friday, January 28th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 24th. Shareholders of record on Thursday, February 17th were given a $0.38 dividend. The ex-dividend date was Wednesday, February 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.50%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 22.45%.

In related news, CEO Alan M. Forney sold 3,029 shares of the business’s stock in a transaction on Friday, February 4th. The shares were sold at an average price of $70.63, for a total value of $213,938.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP A Scott Anderson sold 30,703 shares of the stock in a transaction on Monday, February 14th. The shares were sold at an average price of $71.85, for a total transaction of $2,206,010.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,899 shares of company stock worth $3,623,797. Corporate insiders own 1.81% of the company’s stock.

ZION has been the subject of several recent analyst reports. Barclays raised their target price on shares of Zions Bancorporation, National Association from $67.00 to $73.00 in a research note on Monday, January 3rd. DA Davidson restated a “neutral” rating on shares of Zions Bancorporation, National Association in a research note on Tuesday, January 25th. Bank of America cut Zions Bancorporation, National Association from a “neutral” rating to an “underperform” rating and increased their price target for the company from $65.00 to $68.00 in a research note on Thursday, January 6th. Raymond James raised their price target on Zions Bancorporation, National Association from $80.00 to $84.00 and gave the stock a “strong-buy” rating in a report on Friday, March 4th. Finally, B. Riley cut their price objective on shares of Zions Bancorporation, National Association from $77.00 to $70.00 in a report on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.29.

About Zions Bancorporation, National Association (Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

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

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