Retirement Systems of Alabama Has $8.47 Million Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Retirement Systems of Alabama lowered its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 1.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 179,416 shares of the bank’s stock after selling 2,826 shares during the period. Retirement Systems of Alabama’s holdings in Zions Bancorporation, National Association were worth $8,472,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC raised its holdings in shares of Zions Bancorporation, National Association by 0.9% during the third quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock worth $1,191,000 after acquiring an additional 217 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in Zions Bancorporation, National Association by 26.4% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after purchasing an additional 296 shares during the last quarter. Centaurus Financial Inc. raised its stake in shares of Zions Bancorporation, National Association by 8.3% during the 2nd quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock worth $170,000 after purchasing an additional 299 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Zions Bancorporation, National Association by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock valued at $1,947,000 after buying an additional 348 shares during the last quarter. Finally, WBI Investments LLC grew its stake in shares of Zions Bancorporation, National Association by 3.4% in the 2nd quarter. WBI Investments LLC now owns 10,591 shares of the bank’s stock valued at $459,000 after buying an additional 352 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ZION shares. UBS Group began coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday. They set a “neutral” rating and a $64.00 price objective on the stock. Royal Bank of Canada raised their price target on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Robert W. Baird upped their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Compass Point raised their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price target on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $57.06.

Insiders Place Their Bets

In related news, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the transaction, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is currently owned by company insiders.

Zions Bancorporation, National Association Trading Down 2.5 %

Shares of Zions Bancorporation, National Association stock opened at $56.22 on Wednesday. Zions Bancorporation, National Association has a 1 year low of $37.76 and a 1 year high of $63.22. The company’s fifty day simple moving average is $56.00 and its 200-day simple moving average is $49.54. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 5.10 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

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 the consensus estimate of $1.16 by $0.21. The company had revenue of $1.28 billion for 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 quarter in the previous year, the firm posted $1.13 EPS. As a group, sell-side analysts expect that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.43 dividend. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a yield of 3.06%. Zions Bancorporation, National Association’s dividend payout ratio is 39.18%.

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.