Swiss National Bank Reduces Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Swiss National Bank reduced its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 1.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 288,200 shares of the bank’s stock after selling 3,300 shares during the period. Swiss National Bank’s holdings in Zions Bancorporation, National Association were worth $13,609,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. CVA Family Office LLC grew its holdings in Zions Bancorporation, National Association by 0.9% in the 3rd quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock valued at $1,191,000 after buying an additional 217 shares in the last quarter. Strategic Advocates LLC grew its holdings in shares of Zions Bancorporation, National Association by 6.1% during the 2nd quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock worth $223,000 after purchasing an additional 296 shares during the period. Abich Financial Wealth Management LLC grew its holdings in shares of Zions Bancorporation, National Association by 26.4% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after purchasing an additional 296 shares during the period. Centaurus Financial Inc. grew its holdings in shares of Zions Bancorporation, National Association by 8.3% during the 2nd quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock worth $170,000 after purchasing an additional 299 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Zions Bancorporation, National Association by 1.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock worth $1,174,000 after purchasing an additional 327 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore ISI increased their price target on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price target on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Morgan Stanley increased their price target on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group raised their target price on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their target price on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.63.

Insider Transactions at Zions Bancorporation, National Association

In other news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the sale, the vice president now 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 the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the sale, the executive vice president now directly owns 24,714 shares in the company, valued at $1,321,210.44. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,228 shares of company stock valued at $519,048. Corporate insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Price Performance

ZION stock opened at $60.58 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $8.95 billion, a P/E ratio of 13.80, a P/E/G ratio of 5.21 and a beta of 1.07. The business’s 50-day moving average is $51.81 and its two-hundred day moving average is $47.63. Zions Bancorporation, National Association has a 1 year low of $33.66 and a 1 year high of $61.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping 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 business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. During the same quarter last year, the company earned $1.13 EPS. Analysts anticipate 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. Stockholders of record on Thursday, November 14th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.18%.

Zions Bancorporation, National Association 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.