Principal Financial Group Inc. Sells 160,857 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Principal Financial Group Inc. trimmed its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 32.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 341,698 shares of the bank's stock after selling 160,857 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Zions Bancorporation, National Association worth $16,135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ZION. ORG Wealth Partners LLC bought a new stake in Zions Bancorporation, National Association in the 3rd quarter valued at $28,000. ORG Partners LLC acquired a new stake in Zions Bancorporation, National Association during the second quarter worth about $33,000. International Assets Investment Management LLC bought a new position in Zions Bancorporation, National Association during the second quarter valued at about $34,000. Rothschild Investment LLC acquired a new position in Zions Bancorporation, National Association in the 2nd quarter valued at approximately $39,000. Finally, Abich Financial Wealth Management LLC lifted its position in shares of Zions Bancorporation, National Association by 49.7% in 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 during the period. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Compass Point upped their target price on Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Argus downgraded shares of Zions Bancorporation, National Association from a "buy" rating to a "hold" rating in a report on Thursday, July 25th. Morgan Stanley upped their target price on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 22nd. Truist Financial raised 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 research note on Wednesday, October 23rd. Finally, Jefferies Financial Group lowered their price objective on 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 analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $53.59.

Zions Bancorporation, National Association Price Performance

Shares of ZION stock traded down $0.09 during trading hours on Friday, reaching $59.51. 1,095,824 shares of the company were exchanged, compared to its average volume of 1,628,661. Zions Bancorporation, National Association has a fifty-two week low of $33.66 and a fifty-two week high of $61.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The stock's fifty day moving average is $50.44 and its two-hundred day moving average is $47.04. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 5.27 and a beta of 1.07.

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, beating analysts' consensus estimates of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates 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 last year, the company earned $1.13 EPS. Sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.89%. This is a positive change from Zions Bancorporation, National Association's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, November 14th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 39.18%.

Insiders Place Their Bets

In related news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the sale, the vice president now directly owns 35,878 shares of the company's stock, valued at $2,182,817.52. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer Anne Smith sold 3,605 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $209,306.30. Following the completion of the sale, the executive vice president now owns 24,714 shares of the company's stock, valued at $1,434,894.84. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,228 shares of company stock valued at $519,048. 2.22% of the stock is currently owned by insiders.

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.