Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,118 shares of the bank's stock after selling 7,517 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Zions Bancorporation, National Association worth $9,066,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Zions Bancorporation, National Association by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after purchasing an additional 285,588 shares in the last quarter. State Street Corp boosted its holdings in Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank's stock worth $332,515,000 after acquiring an additional 896,889 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Zions Bancorporation, National Association by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after acquiring an additional 194,995 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Zions Bancorporation, National Association by 0.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock worth $146,396,000 after acquiring an additional 14,070 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank's stock valued at $124,592,000 after acquiring an additional 30,030 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

ZION has been the topic of several research analyst reports. UBS Group initiated coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a "neutral" rating and a $64.00 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, January 22nd. Royal Bank of Canada raised their target price on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 22nd. Stephens reiterated an "equal weight" rating and set a $64.00 price target on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. Finally, Barclays raised their price objective on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $60.94.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock traded down $0.38 during trading hours on Tuesday, reaching $49.48. The stock had a trading volume of 1,054,718 shares, compared to its average volume of 1,545,860. The stock's 50 day moving average is $53.30 and its 200 day moving average is $53.82. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a twelve month low of $39.05 and a twelve month high of $63.22. The firm has a market capitalization of $7.30 billion, a PE ratio of 10.00, a PEG ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. Zions Bancorporation, National Association's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS. Equities analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.48%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 34.75%.

Zions Bancorporation, National Association announced that its board has initiated a share buyback program on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares of the company's stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the sale, the executive vice president now owns 45,847 shares of the company's stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is owned by company insiders.

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.