M&T Bank Corp Cuts Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

M&T Bank Corp lessened its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 5.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,326 shares of the bank’s stock after selling 383 shares during the quarter. M&T Bank Corp’s holdings in Zions Bancorporation, National Association were worth $299,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $510,000. Dimensional Fund Advisors LP increased its position in Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after buying an additional 929,251 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Zions Bancorporation, National Association by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock worth $1,302,000 after buying an additional 506 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Zions Bancorporation, National Association by 75.0% in the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after buying an additional 433,513 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Zions Bancorporation, National Association by 14.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 351,148 shares of the bank’s stock valued at $16,581,000 after buying an additional 43,720 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Trading Down 5.5 %

Shares of Zions Bancorporation, National Association stock opened at $53.12 on Thursday. The company has a 50 day simple moving average of $56.10 and a two-hundred day simple moving average of $49.56. The firm has a market cap of $7.85 billion, a PE ratio of 12.10, a PEG ratio of 5.10 and a beta of 1.10. Zions Bancorporation, National Association has a 1 year low of $37.76 and a 1 year high of $63.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same period in the previous year, the firm posted $1.13 EPS. Analysts expect that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 3.24%. Zions Bancorporation, National Association’s dividend payout ratio is 39.18%.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This trade represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the sale, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at $5,265,325.92. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,881 shares of company stock valued at $1,108,184. Corporate insiders own 2.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ZION shares. Morgan Stanley boosted their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Truist Financial raised their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Compass Point raised their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wolfe Research raised Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and a consensus target price of $57.06.

Zions Bancorporation, National Association 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.