Fintel reports that State Street
has filed a 13G/A form
with the SEC disclosing ownership of
shares of Zions Bancorporation (ZION).
This represents 4.81% of the company.
In their previous filing dated February 14, 2022
they reported 8.34MM shares and 5.33% of the company,
a decrease in shares of 13.72%
a decrease in total ownership of
0.52% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 8.63% Upside
As of February 5, 2023,
the average one-year price target for Zions Ban is $59.10.
The forecasts range from a low of $49.49 to a high of $69.30.
The average price target represents an increase of 8.63% from its latest reported closing price of $54.41.
The projected annual revenue for Zions Ban
is $3,632MM, an increase of 19.87%.
The projected annual EPS
is $6.89, an increase of 17.74%.
There are 1113 funds or institutions reporting positions in Zions Ban.
This is an increase
owner(s) or 0.54%.
Average portfolio weight of all funds dedicated to US:ZION is 0.2022%,
Total shares owned by institutions increased
in the last three months by 1.91% to 155,408K shares.
What are large shareholders doing?
Victory Capital Management
holds 7,704,832 shares
representing 5.18% ownership of the company.
In it’s prior filing, the firm reported owning 7,188,281 shares, representing
its portfolio allocation in ZION by 9.71% over the last quarter.
VETAX – Victory Sycamore Established Value Fund
holds 5,279,500 shares
representing 3.55% ownership of the company.
In it’s prior filing, the firm reported owning 5,100,000 shares, representing
its portfolio allocation in ZION by 6.75% over the last quarter.
holds 4,498,569 shares
representing 3.03% ownership of the company.
In it’s prior filing, the firm reported owning 4,613,393 shares, representing
its portfolio allocation in ZION by 3.50% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 4,497,291 shares
representing 3.03% ownership of the company.
In it’s prior filing, the firm reported owning 4,449,827 shares, representing
its portfolio allocation in ZION by 5.27% over the last quarter.
Massachusetts Financial Services
holds 4,413,092 shares
representing 2.97% ownership of the company.
In it’s prior filing, the firm reported owning 4,250,628 shares, representing
its portfolio allocation in ZION by 12.50% over the last quarter.
Zions Ban Declares $0.41 Dividend
Zions Ban said on January 27, 2023 that its board of directors declared a regular
quarterly dividend of $0.41 per share ($1.64 annualized).
Shareholders of record as of February 15, 2023
will receive the payment on February 23, 2023.
Previously, the company paid $0.41 per share.
At the current share price of $54.41 / share,
the stock’s dividend yield is 3.01%.
Looking back five years and taking a sample every week, the average dividend yield has been
the lowest has been 1.41%,
and the highest has been 5.65%.
The standard deviation of yields is 0.77 (n=236).
The current dividend yield is
0.23 standard deviations
the historical average.
Additionally, the company’s dividend payout ratio is 0.27.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.21%,
demonstrating that it has increased its dividend over time.
Zions Bancorporation N.A Background Information
(This description is provided by the company.)
Zions Bancorporation, N.A. is one of the nation’s premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $80 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending, recently ranking as the 9th largest provider in the U.S. of the SBA’s Paycheck Protection Program loans. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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