Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC lowered its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 61.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 120,215 shares of the bank’s stock after selling 193,317 shares during the quarter. Principal Street Partners LLC’s holdings in Zions Bancorporation, National Association were worth $5,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZION. ORG Wealth Partners LLC bought a new stake in Zions Bancorporation, National Association during the third quarter worth approximately $28,000. ORG Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association during the 2nd quarter valued at $33,000. International Assets Investment Management LLC bought a new stake in shares of Zions Bancorporation, National Association during the 2nd quarter worth $34,000. Rothschild Investment LLC acquired a new position in shares of Zions Bancorporation, National Association in the 2nd quarter worth $39,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Zions Bancorporation, National Association by 49.7% during the first quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock worth $49,000 after purchasing an additional 372 shares during the period. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION opened at $61.73 on Tuesday. The business has a fifty day simple moving average of $52.11 and a 200 day simple moving average of $47.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a 1 year low of $33.66 and a 1 year high of $63.22. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 5.36 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same period in the previous year, the company earned $1.13 EPS. As a group, sell-side analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 2.79%. Zions Bancorporation, National Association’s payout ratio is 39.18%.

Insiders Place Their Bets

In related news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the transaction, the vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer Anne Smith sold 3,605 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $209,306.30. Following the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at $1,434,894.84. The trade was a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,375 shares of company stock valued at $527,748 over the last ninety days. Corporate insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ZION shares. Morgan Stanley increased their price target on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Compass Point raised their target price on shares of Zions Bancorporation, National Association from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday. Stephens upped their price target on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group lowered their price objective on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.13.

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.