The Manufacturers Life Insurance Company Trims Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

The Manufacturers Life Insurance Company cut its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 757,372 shares of the bank’s stock after selling 60,963 shares during the period. The Manufacturers Life Insurance Company’s holdings in Zions Bancorporation, National Association were worth $32,847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new stake in Zions Bancorporation, National Association during the 1st quarter valued at approximately $27,000. Jones Financial Companies Lllp purchased a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth approximately $29,000. ORG Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association during the second quarter worth $33,000. International Assets Investment Management LLC acquired a new stake in shares of Zions Bancorporation, National Association during the second quarter worth $34,000. Finally, Rothschild Investment LLC purchased a new position in Zions Bancorporation, National Association in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the company’s stock in a transaction dated 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 transaction, the president now directly owns 74,286 shares in the company, valued at approximately $3,850,243.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the business’s stock in a transaction 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 completion of the transaction, the president now directly owns 74,286 shares in the company, valued at approximately $3,850,243.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bruce K. Alexander sold 5,156 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total value 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 owned by corporate insiders.

Zions Bancorporation, National Association Stock Up 1.6 %

Shares of NASDAQ ZION opened at $47.22 on Tuesday. The firm’s 50-day moving average is $47.66 and its two-hundred day moving average is $44.52. The company has a market capitalization of $6.97 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 2.81 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 company has a debt-to-equity ratio of 1.11, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. The firm had revenue of $776.00 million for the quarter, compared to analyst estimates of $761.61 million. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. Zions Bancorporation, National Association’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. Equities analysts anticipate that Zions Bancorporation, National Association will post 4.51 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s payout ratio is currently 41.21%.

Analyst Ratings Changes

Several analysts have recently commented on ZION shares. Truist Financial reduced their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Stephens raised 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. Morgan Stanley upgraded Zions Bancorporation, National Association from an “underweight” rating to an “equal weight” rating and set a $54.00 target price on the stock in a research report on Monday. Argus downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada upped their price objective 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. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.