Arrowstreet Capital Limited Partnership Purchases 84,424 Shares of Zions Bancorporation, N.A. $ZION

Arrowstreet Capital Limited Partnership raised its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,820,454 shares of the bank's stock after acquiring an additional 84,424 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.23% of Zions Bancorporation, N.A. worth $94,554,000 at the end of the most recent reporting period.

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Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers grew its position in Zions Bancorporation, N.A. by 18.9% in the first quarter. Cetera Investment Advisers now owns 41,060 shares of the bank's stock valued at $2,047,000 after purchasing an additional 6,519 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Zions Bancorporation, N.A. by 6.3% in the 1st quarter. LPL Financial LLC now owns 63,365 shares of the bank's stock valued at $3,159,000 after acquiring an additional 3,756 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $400,000. Bank of Nova Scotia acquired a new stake in shares of Zions Bancorporation, N.A. in the first quarter valued at about $2,895,000. Finally, New Age Alpha Advisors LLC bought a new stake in Zions Bancorporation, N.A. during the first quarter worth about $40,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 2,458 shares of the firm's stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $53.11, for a total transaction of $130,544.38. Following the transaction, the executive vice president directly owned 27,133 shares of the company's stock, valued at approximately $1,441,033.63. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.22% of the company's stock.

Wall Street Analysts Forecast Growth

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Several research firms have weighed in on ZION. Weiss Ratings lowered Zions Bancorporation, N.A. from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 24th. TD Cowen started coverage on shares of Zions Bancorporation, N.A. in a report on Thursday, September 25th. They set a "hold" rating and a $64.00 target price on the stock. UBS Group cut their price target on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a "neutral" rating for the company in a research note on Wednesday, November 5th. Zacks Research lowered shares of Zions Bancorporation, N.A. from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Finally, Evercore ISI upped their target price on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of "Hold" and an average target price of $61.29.

Check Out Our Latest Report on ZION

Zions Bancorporation, N.A. Price Performance

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Zions Bancorporation, N.A. stock opened at $54.82 on Thursday. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.89 and a beta of 0.88. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $60.13. The stock's 50 day moving average is $53.10 and its 200-day moving average is $53.17.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. The business had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a return on equity of 13.56% and a net margin of 17.22%. Equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a $0.45 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.80 annualized dividend and a dividend yield of 3.3%. Zions Bancorporation, N.A.'s dividend payout ratio is 32.26%.

About Zions Bancorporation, N.A.

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.

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