Nisa Investment Advisors LLC Sells 5,370 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Nisa Investment Advisors LLC lowered its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 8.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 58,913 shares of the bank’s stock after selling 5,370 shares during the period. Nisa Investment Advisors LLC’s holdings in Zions Bancorporation, National Association were worth $2,555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in shares of Zions Bancorporation, National Association in the first quarter worth approximately $27,000. Federated Hermes Inc. lifted its stake in shares of Zions Bancorporation, National Association by 105.4% in the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock worth $28,000 after buying an additional 331 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Zions Bancorporation, National Association in the fourth quarter worth approximately $29,000. ORG Partners LLC bought a new position in shares of Zions Bancorporation, National Association in the second quarter worth approximately $33,000. Finally, Quarry LP bought a new position in shares of Zions Bancorporation, National Association in the fourth quarter worth approximately $49,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Price Performance

Zions Bancorporation, National Association stock opened at $46.36 on Wednesday. The firm has a 50-day moving average price of $45.87 and a 200-day moving average price of $43.03. The firm has a market capitalization of $6.85 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 2.81 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11. Zions Bancorporation, National Association has a 12-month low of $28.90 and a 12-month high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.18. The firm had revenue of $776.00 million during the quarter, compared to analyst estimates of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $1.11 EPS. As a group, equities research analysts forecast that Zions Bancorporation, National Association will post 4.53 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.54%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Analyst Upgrades and Downgrades

ZION has been the topic of several analyst reports. Argus downgraded shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Truist Financial upped their target price on shares of Zions Bancorporation, National Association from $45.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company increased their price objective on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Compass Point increased their price objective on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Stephens increased their price objective on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus price target of $48.72.

Insider Transactions at Zions Bancorporation, National Association

In related news, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.83, for a total value of $267,235.48. Following the transaction, the vice president now owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the transaction, the president now owns 74,286 shares of the company’s stock, valued at approximately $3,850,243.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, the vice president now directly owns 17,857 shares in the company, valued at approximately $925,528.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,073 shares of company stock worth $3,476,298. 2.22% of the stock is currently owned by insiders.

About Zions Bancorporation, National Association

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.