MainStreet Investment Advisors LLC Acquires 3,550 Shares of Zions Bancorporation NA (NASDAQ:ZION)
MainStreet Investment Advisors LLC lifted its holdings in shares of Zions Bancorporation NA (NASDAQ:ZION) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,352 shares of the bank’s stock after acquiring an additional 3,550 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Zions Bancorporation NA were worth $3,465,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. OLD Second National Bank of Aurora boosted its stake in shares of Zions Bancorporation NA by 2.9% during the 2nd quarter. OLD Second National Bank of Aurora now owns 49,455 shares of the bank’s stock worth $2,273,000 after acquiring an additional 1,402 shares during the period. CX Institutional boosted its stake in shares of Zions Bancorporation NA by 21.5% during the 2nd quarter. CX Institutional now owns 24,502 shares of the bank’s stock worth $1,127,000 after acquiring an additional 4,338 shares during the period. IFM Investors Pty Ltd boosted its stake in shares of Zions Bancorporation NA by 3.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 11,718 shares of the bank’s stock worth $539,000 after acquiring an additional 385 shares during the period. Centre Asset Management LLC bought a new position in shares of Zions Bancorporation NA during the 2nd quarter worth approximately $8,346,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Zions Bancorporation NA by 20.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 67,636 shares of the bank’s stock worth $3,110,000 after acquiring an additional 11,644 shares during the period. Institutional investors own 94.78% of the company’s stock.
Several research analysts have recently commented on the company. Barclays reduced their target price on Zions Bancorporation NA from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. SunTrust Banks restated a “buy” rating and issued a $215.00 price target on shares of Facebook in a research note on Tuesday, July 23rd. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Wells Fargo & Co downgraded Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $62.00 to $50.00 in a research note on Monday, July 22nd. Finally, BMO Capital Markets reduced their price target on Snc-Lavalin Group from C$33.00 to C$28.00 in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $52.73.
Zions Bancorporation NA (NASDAQ:ZION) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.10). The company had revenue of $701.00 million during the quarter, compared to analyst estimates of $723.21 million. Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, sell-side analysts expect that Zions Bancorporation NA will post 4.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be issued a $0.34 dividend. This is a boost from Zions Bancorporation NA’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a yield of 3.00%. Zions Bancorporation NA’s payout ratio is currently 29.41%.
In other Zions Bancorporation NA news, General Counsel Thomas E. Laursen sold 2,050 shares of Zions Bancorporation NA stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $48.50, for a total value of $99,425.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James R. Abbott sold 1,988 shares of Zions Bancorporation NA stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $45.83, for a total value of $91,110.04. The disclosure for this sale can be found here. Insiders sold a total of 19,100 shares of company stock valued at $889,288 over the last ninety days. Insiders own 1.70% of the company’s stock.
About Zions Bancorporation NA
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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