Amalgamated Bank Has $4 Million Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Amalgamated Bank lessened its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 8.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 92,119 shares of the bank’s stock after selling 8,347 shares during the quarter. Amalgamated Bank’s holdings in Zions Bancorporation, National Association were worth $3,995,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Comerica Bank raised its stake in Zions Bancorporation, National Association by 331.1% during the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock worth $5,159,000 after buying an additional 91,289 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Zions Bancorporation, National Association during the 1st quarter worth about $1,959,000. Retirement Systems of Alabama increased its holdings in Zions Bancorporation, National Association by 469.8% during the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock worth $8,074,000 after purchasing an additional 153,387 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Zions Bancorporation, National Association by 345.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock worth $3,831,000 after purchasing an additional 68,445 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Zions Bancorporation, National Association by 22.3% during the 4th quarter. Corient Private Wealth LLC now owns 113,846 shares of the bank’s stock worth $4,994,000 after purchasing an additional 20,721 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Trading Down 0.9 %

Shares of NASDAQ:ZION opened at $47.99 on Monday. Zions Bancorporation, National Association has a 52-week low of $28.90 and a 52-week high of $53.32. The company has a market capitalization of $7.09 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09. The company has a 50-day simple moving average of $48.00 and a 200 day simple moving average of $44.29. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.18. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The business had revenue of $776.00 million during the quarter, compared to the consensus estimate of $761.61 million. During the same period last year, the business posted $1.11 EPS. Zions Bancorporation, National Association’s revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that Zions Bancorporation, National Association will post 4.52 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.64 annualized dividend and a yield of 3.42%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares in the company, valued at $1,275,859.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Scott J. Mclean sold 60,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the sale, the president now directly owns 74,286 shares in the company, valued at $3,850,243.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The disclosure for this sale can be found here. Insiders sold 67,073 shares of company stock worth $3,476,298 over the last three months. Insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZION. Royal Bank of Canada increased their target price on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 23rd. Robert W. Baird increased their target price on Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wedbush increased their target price on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Jefferies Financial Group lowered their target price on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. Finally, Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.72.

Zions Bancorporation, National Association 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.