Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 17.9% in the third quarter, HoldingsChannel reports. The fund owned 7,259 shares of the bank’s stock after selling 1,583 shares during the quarter. Pitcairn Co.’s holdings in Zions Bancorporation, National Association were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. ORG Wealth Partners LLC bought a new position in Zions Bancorporation, National Association during the 3rd quarter valued at $28,000. ORG Partners LLC purchased a new stake in Zions Bancorporation, National Association in the 2nd quarter worth about $33,000. International Assets Investment Management LLC acquired a new stake in Zions Bancorporation, National Association during the 2nd quarter worth about $34,000. Rothschild Investment LLC acquired a new position in shares of Zions Bancorporation, National Association in the 2nd quarter valued at about $39,000. Finally, Abich Financial Wealth Management LLC lifted its position in shares of Zions Bancorporation, National Association by 49.7% in 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 in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION opened at $61.11 on Wednesday. The stock has a 50-day simple moving average of $52.11 and a 200 day simple moving average of $47.80. Zions Bancorporation, National Association has a twelve month low of $33.66 and a twelve month high of $63.22. The stock has a market capitalization of $9.03 billion, a PE ratio of 13.92, a P/E/G ratio of 5.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $781.63 million. During the same period in the prior year, the business earned $1.13 earnings per share. Research analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.43 per share. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.81%. Zions Bancorporation, National Association’s payout ratio is presently 39.18%.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,321,210.44. This represents a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric Ellingsen sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the sale, the vice president now owns 35,878 shares in the company, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,375 shares of company stock valued at $527,748. Insiders own 2.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ZION shares. Morgan Stanley upped their price objective on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Robert W. Baird lifted their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Truist Financial raised their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their price target on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday. 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’s stock. Based on data from MarketBeat.com, the stock presently 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.