Virtu Financial LLC bought a new position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 12,341 shares of the bank's stock, valued at approximately $583,000.
Several other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Zions Bancorporation, National Association by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank's stock worth $271,003,000 after purchasing an additional 929,251 shares during the last quarter. State Street Corp increased its holdings in shares of Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank's stock worth $332,515,000 after buying an additional 896,889 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of Zions Bancorporation, National Association by 165.0% during the 3rd quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank's stock worth $42,761,000 after buying an additional 563,889 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank's stock valued at $126,762,000 after buying an additional 538,049 shares during the period. Finally, Wellington Management Group LLP acquired a new position in Zions Bancorporation, National Association in the third quarter valued at approximately $24,647,000. Hedge funds and other institutional investors own 76.84% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective 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 boosted their target price on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised 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. Robert W. Baird increased their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group lifted their target price on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $55.88.
View Our Latest Research Report on Zions Bancorporation, National Association
Zions Bancorporation, National Association Stock Down 0.8 %
NASDAQ:ZION traded down $0.48 during midday trading on Friday, hitting $57.67. 1,189,385 shares of the company were exchanged, compared to its average volume of 960,031. The company has a fifty day simple moving average of $55.62 and a 200 day simple moving average of $49.29. The company has a market capitalization of $8.52 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22.
Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. During the same quarter in the prior year, the firm earned $1.13 EPS. As a group, equities 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 declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.43 dividend. 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. This represents a $1.72 annualized dividend and a dividend yield of 2.98%. Zions Bancorporation, National Association's dividend payout ratio is currently 39.18%.
Insider Transactions at Zions Bancorporation, National Association
In related news, EVP Jennifer Anne Smith sold 4,385 shares of the business'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 transaction of $234,422.10. Following the transaction, the executive vice president now directly owns 24,714 shares of the company's stock, valued at approximately $1,321,210.44. The trade was a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of the 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 of the company's stock, valued at $5,265,325.92. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,881 shares of company stock valued at $1,108,184 over the last three months. 2.22% of the stock is currently owned by insiders.
Zions Bancorporation, National Association Company Profile
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Free Report)
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.
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