SSgA Funds Management, Inc. recently announced the acquisition of new stake in Zions Bancorporation N.A (NASDAQ:ZION). The institutional investor has increased its shareholding in the Financial company by 28.20% to 10.48 million shares with purchase of 2.31 million shares. This fresh investment now brings its stake to 7.07% valued currently at $459.78 million. In addition, Dimensional Fund Advisors LP raised its holdings by 0.51 million to 4.09 million shares. And Charles Schwab Investment Managem has lifted its position by 2.73% or 98719.0 shares – to 3.72 million shares.
Currently, there are 148.66M common shares owned by the public and among those 145.58M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 145 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 285,585 shares. Insider sales of the common stock occurred on 99 occasions, with total insider shares sold totaling 68,713 shares.
The top 3 mutual fund holders in Zions Bancorporation N.A are Vanguard Total Stock Market ETF, SPDR S&P Regional Banking ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 4.65 million shares of the company’s stock, all valued at over $203.87 million. The company bought an additional 3927.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. SPDR S&P Regional Banking ETF bought 36455.0 shares to see its total holdings expand to 3.84 million shares valued at over $168.54 million and representing 2.59% of the shares outstanding. Vanguard Small Cap Index Fund sold 65137.0 shares to bring its total holdings to over 3.77 million shares at a value of $165.51 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.55% of the shares outstanding.
However, the script later moved the day high at 44.01, up 4.06%. The company’s stock has a 5-day price change of 2.85% and 34.34% over the past three months. ZION shares are trading -1.28% year to date (YTD), with the 12-month market performance down to -12.54% lower. It has a 12-month low price of $18.26 and touched a high of $55.19 over the same period. ZION has an average intraday trading volume of 2.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.36%, 9.64%, and 28.94% respectively.
Institutional ownership of Zions Bancorporation N.A (NASDAQ: ZION) shares accounts for 81.92% of the company’s 148.66M shares outstanding. Mutual fund holders own 3.76%, while other institutional holders and individual stakeholders account for 52.93% and 29.13% respectively.
It has a market capitalization of $6.42B and a beta (3y monthly) value of 1.15. The stock’s trailing 12-month PE ratio is 7.99, while the earnings-per-share (ttm) stands at $5.42. The company has a PEG of 1.65 and the debt-to-equity ratio at 0.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.91% over the week and 3.23% over the month.
Analysts forecast that Zions Bancorporation N.A (ZION) will achieve an EPS of $0.99 for the current quarter, $0.93 for the next quarter and $4.02 for 2024. The lowest estimate earnings-per-share for the quarter is $0.58 while analysts give the company a high EPS estimate of $1.19. Comparatively, EPS for the current quarter was $1.84 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.71%, and 10.56% over the next financial year. EPS should shrink at an annualized rate of 4.83% over the next five years, compared to 17.37% over the past 5-year period.
Looking at the support for the ZION, a number of firms have released research notes about the stock. Truist stated their Hold rating for the stock in a research note on January 05, 2024, with the firm’s price target at $51-$46.
