Victory Capital Management Inc. Cuts Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

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Victory Capital Management Inc. lessened its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,140,287 shares of the bank’s stock after selling 456,038 shares during the quarter. Victory Capital Management Inc. owned about 3.74% of Zions Bancorporation, National Association worth $179,419,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Zions Bancorporation, National Association by 0.6% during the third quarter. BlackRock Inc. now owns 12,546,124 shares of the bank’s stock worth $366,598,000 after acquiring an additional 74,651 shares during the period. LSV Asset Management boosted its stake in shares of Zions Bancorporation, National Association by 6.2% during the second quarter. LSV Asset Management now owns 5,479,080 shares of the bank’s stock valued at $186,288,000 after acquiring an additional 318,632 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Zions Bancorporation, National Association by 103.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,288,855 shares of the bank’s stock valued at $77,822,000 after acquiring an additional 1,161,597 shares during the last quarter. Todd Asset Management LLC boosted its stake in shares of Zions Bancorporation, National Association by 0.9% during the third quarter. Todd Asset Management LLC now owns 851,388 shares of the bank’s stock valued at $24,877,000 after acquiring an additional 7,763 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Zions Bancorporation, National Association by 11.3% during the second quarter. Nuveen Asset Management LLC now owns 726,448 shares of the bank’s stock valued at $24,700,000 after acquiring an additional 73,683 shares during the last quarter. Institutional investors and hedge funds own 86.34% of the company’s stock.

In other news, EVP Steven Dan Stephens sold 6,491 shares of Zions Bancorporation, National Association stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $33.24, for a total transaction of $215,760.84. Following the transaction, the executive vice president now owns 61,957 shares in the company, valued at $2,059,450.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.81% of the company’s stock.

Zions Bancorporation, National Association stock traded down $1.00 during mid-day trading on Tuesday, hitting $38.75. 17,604 shares of the company’s stock traded hands, compared to its average volume of 2,625,391. The firm has a 50 day moving average price of $32.20 and a 200 day moving average price of $32.53. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. The company has a market cap of $6.52 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.91 and a beta of 1.63. Zions Bancorporation, National Association has a one year low of $23.58 and a one year high of $52.48.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 19th. The bank reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.13. Zions Bancorporation, National Association had a return on equity of 6.79% and a net margin of 14.58%. During the same period in the prior year, the firm posted $1.17 EPS. On average, analysts expect that Zions Bancorporation, National Association will post 2.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, November 10th. Zions Bancorporation, National Association’s payout ratio is 31.41%.

A number of analysts recently commented on ZION shares. Zacks Investment Research lowered Zions Bancorporation, National Association from a “hold” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research note on Tuesday, September 22nd. SunTrust Banks cut their price objective on Zions Bancorporation, National Association from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Wolfe Research began coverage on Zions Bancorporation, National Association in a report on Friday, July 31st. They set an “underperform” rating on the stock. Wedbush raised their target price on Zions Bancorporation, National Association from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley lowered their price objective on Zions Bancorporation, National Association from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 3rd. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $38.06.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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