Geode Capital Management LLC Has $124.59 Million Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Geode Capital Management LLC raised its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,637,917 shares of the bank's stock after acquiring an additional 30,030 shares during the quarter. Geode Capital Management LLC owned 1.79% of Zions Bancorporation, National Association worth $124,592,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in Zions Bancorporation, National Association during the 3rd quarter valued at $28,000. International Assets Investment Management LLC purchased a new stake in shares of Zions Bancorporation, National Association during the second quarter worth about $34,000. Rothschild Investment LLC acquired a new position in shares of Zions Bancorporation, National Association in the second quarter worth about $39,000. New Millennium Group LLC acquired a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at approximately $55,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Zions Bancorporation, National Association by 68.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank's stock valued at $56,000 after purchasing an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION traded down $3.10 on Wednesday, reaching $53.12. 1,932,945 shares of the stock traded hands, compared to its average volume of 1,976,790. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm's fifty day simple moving average is $56.00 and its 200 day simple moving average is $49.54. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 5.10 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm 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. As a group, research analysts predict 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. Investors of record on Thursday, November 14th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, November 14th. 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 3.24%. Zions Bancorporation, National Association's dividend payout ratio is currently 39.18%.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,385 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 24,714 shares of the company's stock, valued at $1,321,210.44. This trade represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paul E. Burdiss sold 9,506 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 86,232 shares in the company, valued at $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ZION has been the subject of a number of recent analyst reports. Barclays raised their price target 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. Truist Financial boosted their target price on shares of 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. Wedbush increased their price target 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. Morgan Stanley boosted their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $57.06.

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.