State Street Corp Boosts Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

State Street Corp grew its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 14.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,041,818 shares of the bank's stock after purchasing an additional 896,889 shares during the quarter. State Street Corp owned about 4.77% of Zions Bancorporation, National Association worth $332,515,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ZION. ORG Wealth Partners LLC acquired a new position in shares of Zions Bancorporation, National Association in the third quarter valued at about $28,000. ORG Partners LLC bought a new stake in shares of Zions Bancorporation, National Association during the second quarter worth about $33,000. International Assets Investment Management LLC acquired a new position in Zions Bancorporation, National Association in the 2nd quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new stake in Zions Bancorporation, National Association in the second quarter valued at $39,000. Finally, New Millennium Group LLC bought a new position in shares of Zions Bancorporation, National Association during the second quarter worth about $55,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird upped their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Compass Point upped their target price on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a "neutral" rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of "Hold" and a consensus price target of $55.88.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction on Tuesday, November 26th. The stock was 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 in the company, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of the company's 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 transaction, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, 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 Trading Up 0.6 %

Shares of NASDAQ:ZION traded up $0.35 during trading on Tuesday, reaching $58.42. 1,152,685 shares of the company traded hands, compared to its average volume of 1,991,002. The business's fifty day moving average is $54.66 and its 200-day moving average is $48.90. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 5.23 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 52-week low of $37.76 and a 52-week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results 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 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 quarter last year, the firm posted $1.13 earnings per share. As a group, analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.43 per share. 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 yield of 2.94%. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 39.18%.

Zions Bancorporation, National Association 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.