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

Mutual of America Capital Management LLC trimmed its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 4.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 84,540 shares of the bank’s stock after selling 3,731 shares during the period. Mutual of America Capital Management LLC’s holdings in Zions Bancorporation, National Association were worth $3,666,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Comerica Bank increased its position in Zions Bancorporation, National Association by 331.1% during the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after buying an additional 91,289 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Zions Bancorporation, National Association during the 1st quarter valued at approximately $1,959,000. Retirement Systems of Alabama raised its holdings in shares of Zions Bancorporation, National Association by 469.8% in the first quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock worth $8,074,000 after buying an additional 153,387 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Zions Bancorporation, National Association by 22.3% during the fourth quarter. Corient Private Wealth LLC now owns 113,846 shares of the bank’s stock worth $4,994,000 after buying an additional 20,721 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Zions Bancorporation, National Association by 71.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock valued at $5,136,000 after buying an additional 49,213 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Jefferies Financial Group reduced their target price on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, September 11th. The Goldman Sachs Group lifted their target price on Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wedbush increased their price target on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company dropped their price objective on shares of Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 21st. Finally, Wolfe Research raised shares of Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.72.

Insider Buying and Selling

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

Zions Bancorporation, National Association Stock Down 0.9 %

Shares of ZION opened at $47.99 on Monday. The firm has a market cap of $7.09 billion, a P/E ratio of 12.06, a PEG ratio of 2.83 and a beta of 1.09. Zions Bancorporation, National Association has a 12 month low of $28.90 and a 12 month high of $53.32. The stock’s 50 day moving average is $48.00 and its two-hundred day moving average is $44.29. 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 (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.10 by $0.18. The company 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 firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. Analysts predict that Zions Bancorporation, National Association will post 4.52 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio is presently 41.21%.

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.