American International Group Inc. Purchases 157,259 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

American International Group Inc. raised its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 405.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 196,085 shares of the bank’s stock after acquiring an additional 157,259 shares during the period. American International Group Inc.’s holdings in Zions Bancorporation, National Association were worth $8,510,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Zions Bancorporation, National Association by 55.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,262 shares of the bank’s stock worth $2,644,000 after buying an additional 21,551 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Zions Bancorporation, National Association by 119.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after purchasing an additional 1,259,571 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Zions Bancorporation, National Association by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,746,184 shares of the bank’s stock valued at $164,345,000 after purchasing an additional 27,934 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Zions Bancorporation, National Association during the 4th quarter valued at $1,268,000. Finally, Retirement Systems of Alabama boosted its holdings in Zions Bancorporation, National Association by 469.8% during the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after acquiring an additional 153,387 shares during the period. Institutional investors own 76.84% of the company’s stock.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Rebecca K. Robinson sold 5,291 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $43.66, for a total value of $231,005.06. Following the transaction, the executive vice president now owns 22,238 shares in the company, valued at approximately $970,911.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now owns 22,181 shares in the company, valued at approximately $968,866.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rebecca K. Robinson sold 5,291 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $43.66, for a total value of $231,005.06. Following the transaction, the executive vice president now owns 22,238 shares in the company, valued at approximately $970,911.08. The disclosure for this sale can be found here. Insiders have sold 7,296 shares of company stock worth $319,192 in the last quarter. Company insiders own 2.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZION. Royal Bank of Canada upped their price objective on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Stephens raised their target price on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on Zions Bancorporation, National Association in a research report on Wednesday, April 10th. They set a “hold” rating and a $47.00 price target on the stock. Compass Point raised their target price on Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, UBS Group cut their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.06.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock traded up $1.07 on Thursday, hitting $52.05. The stock had a trading volume of 941,774 shares, compared to its average volume of 2,371,537. Zions Bancorporation, National Association has a 52-week low of $28.90 and a 52-week high of $53.32. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.01. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 5.36 and a beta of 1.11. The company’s 50 day moving average price is $43.89 and its 200 day moving average price is $42.35.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.18. The firm had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a return on equity of 14.13% and a net margin of 13.53%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.11 EPS. On average, research analysts anticipate that Zions Bancorporation, National Association will post 4.36 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.15%. The ex-dividend date was Wednesday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Zions Bancorporation, National Association Company 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.