Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 735,636 shares of the bank's stock after selling 21,736 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.50% of Zions Bancorporation, National Association worth $34,737,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ZION. ORG Wealth Partners LLC purchased a new stake in Zions Bancorporation, National Association during the third quarter worth approximately $28,000. ORG Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association during the 2nd quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new position in shares of Zions Bancorporation, National Association in the 2nd quarter valued at $34,000. Rothschild Investment LLC purchased a new position in shares of Zions Bancorporation, National Association in the 2nd quarter valued at $39,000. Finally, Abich Financial Wealth Management LLC raised its stake in Zions Bancorporation, National Association by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank's stock worth $49,000 after acquiring an additional 372 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZION. Wedbush upped their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Barclays upped their target price on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the company an "underweight" 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. Jefferies Financial Group reduced their price objective on Zions Bancorporation, National Association from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company raised their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $55.13.

Insider Activity

In related 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 sale, the executive vice president now owns 24,714 shares in the company, 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 hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, November 26th. The stock was 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 of the company's stock, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock worth $1,108,184 in the last 90 days. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Stock Performance

ZION traded down $0.16 during trading on Friday, reaching $60.52. The company's stock had a trading volume of 512,359 shares, compared to its average volume of 1,249,472. 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 company's fifty day moving average price is $53.17 and its 200-day moving average price is $48.21. Zions Bancorporation, National Association has a 52-week low of $35.07 and a 52-week high of $63.22. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 5.37 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same period in the previous year, the business earned $1.13 earnings per share. On average, equities analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.43 per share. 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.84%. Zions Bancorporation, National Association's dividend payout ratio is 39.18%.

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.