Martingale Asset Management L P Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

Martingale Asset Management L P bought a new position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 31,142 shares of the bank's stock, valued at approximately $1,471,000.

Other hedge funds also recently bought and sold shares of the company. Comerica Bank boosted its holdings in Zions Bancorporation, National Association by 331.1% in the 1st quarter. Comerica Bank now owns 118,861 shares of the bank's stock worth $5,159,000 after buying an additional 91,289 shares during the period. Cetera Advisors LLC bought a new position in shares of Zions Bancorporation, National Association during the 1st quarter valued at about $878,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Zions Bancorporation, National Association by 223.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 41,401 shares of the bank's stock valued at $1,797,000 after purchasing an additional 28,600 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at about $510,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Zions Bancorporation, National Association by 222.9% during the 2nd quarter. SG Americas Securities LLC now owns 42,852 shares of the bank's stock valued at $1,858,000 after purchasing an additional 29,579 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

ZION has been the subject of several recent research reports. Stephens lifted their price target on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods lifted their price target on 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. JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Truist Financial lifted their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a "hold" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their price target on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a "sector perform" rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $55.13.

Zions Bancorporation, National Association Stock Down 1.0 %

NASDAQ:ZION traded down $0.60 during trading hours on Monday, reaching $59.92. The company's stock had a trading volume of 968,734 shares, compared to its average volume of 2,019,403. The company has a market capitalization of $8.85 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 5.36 and a beta of 1.10. Zions Bancorporation, National Association has a 12 month low of $37.05 and a 12 month high of $63.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $53.17 and a two-hundred day moving average price of $48.26.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. During the same period in the previous year, the company earned $1.13 earnings per share. Equities analysts predict that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.43 dividend. This is a positive change from Zions Bancorporation, National Association's previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association's payout ratio is currently 39.18%.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the sale, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,881 shares of company stock valued at $1,108,184. 2.22% of the stock is currently owned by insiders.

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.