Cinctive Capital Management LP Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

Cinctive Capital Management LP acquired a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 59,926 shares of the bank's stock, valued at approximately $2,830,000.

A number of other large investors also recently bought and sold shares of ZION. Martingale Asset Management L P bought a new stake in Zions Bancorporation, National Association during the third quarter valued at about $1,471,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Zions Bancorporation, National Association by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 430,406 shares of the bank's stock valued at $20,324,000 after buying an additional 5,358 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter valued at about $379,000. Townsquare Capital LLC grew its position in shares of Zions Bancorporation, National Association by 14.1% in the 3rd quarter. Townsquare Capital LLC now owns 25,980 shares of the bank's stock worth $1,227,000 after buying an additional 3,205 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter worth approximately $119,000. Institutional investors own 76.84% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ZION shares. Truist Financial lifted their price target on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on 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. The Goldman Sachs Group boosted their price target on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Morgan Stanley increased 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 report on Tuesday, October 22nd. Finally, Evercore ISI boosted their target price on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $55.13.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION traded down $0.59 during trading on Tuesday, reaching $59.33. 284,670 shares of the company's stock traded hands, compared to its average volume of 2,011,904. 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 fifty-two week low of $37.05 and a fifty-two week high of $63.22. The company has a 50-day simple moving average of $53.42 and a 200-day simple moving average of $48.36. The firm has a market cap of $8.76 billion, a PE ratio of 13.45, a P/E/G ratio of 5.36 and a beta of 1.10.

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

Zions Bancorporation, National Association Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.90%. 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. Zions Bancorporation, National Association's dividend payout ratio is currently 39.18%.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the transaction, the vice president now owns 35,878 shares of the company's stock, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $580,436.36. Following the completion of the sale, the executive vice president now directly owns 86,232 shares in the company, valued at $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,881 shares of company stock worth $1,108,184. Insiders own 2.22% of the company's stock.

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.