Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 46,441 shares of the bank’s stock after selling 1,290 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Zions Bancorporation, National Association were worth $2,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZION. Dimensional Fund Advisors LP raised its stake in Zions Bancorporation, National Association by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after acquiring an additional 929,251 shares in the last quarter. State Street Corp raised its stake in Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after acquiring an additional 896,889 shares in the last quarter. Artemis Investment Management LLP grew its position in Zions Bancorporation, National Association by 165.0% during the 3rd quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after purchasing an additional 563,889 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after purchasing an additional 538,049 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Zions Bancorporation, National Association during the 3rd quarter worth $24,647,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Stock Down 0.1 %

Shares of NASDAQ ZION opened at $57.64 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a 52 week low of $37.76 and a 52 week high of $63.22. The firm has a 50-day moving average price of $55.82 and a 200 day moving average price of $49.45. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter last year, the business earned $1.13 earnings per share. Equities research analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS 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 given a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 2.98%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is presently 39.18%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wedbush raised their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Compass Point raised their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays raised their price objective on shares of Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.88.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the transaction, the executive vice president now owns 86,232 shares of the company’s stock, valued at $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the completion of the transaction, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,881 shares of company stock worth $1,108,184. Insiders own 2.22% of the company’s stock.

About Zions Bancorporation, National Association

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.