Free Trial

Principal Street Partners LLC Has $5.68 Million Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Zions Bancorporation, National Association logo with Finance background

Principal Street Partners LLC reduced its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 61.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,215 shares of the bank's stock after selling 193,317 shares during the quarter. Principal Street Partners LLC owned about 0.08% of Zions Bancorporation, National Association worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Comerica Bank grew its holdings in Zions Bancorporation, National Association by 331.1% during the first quarter. Comerica Bank now owns 118,861 shares of the bank's stock valued at $5,159,000 after purchasing an additional 91,289 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Zions Bancorporation, National Association during the first quarter worth about $1,959,000. Cetera Advisors LLC acquired a new stake in shares of Zions Bancorporation, National Association during the first quarter worth about $878,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Zions Bancorporation, National Association by 223.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 41,401 shares of the bank's stock valued at $1,797,000 after purchasing an additional 28,600 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Zions Bancorporation, National Association in the 3rd quarter valued at approximately $510,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZION. 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 report on Tuesday, October 22nd. Morgan Stanley boosted their target price on 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. Jefferies Financial Group lowered 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 report on Wednesday, September 11th. StockNews.com upgraded shares of Zions Bancorporation, National Association from a "sell" rating to a "hold" rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $55.13.

Check Out Our Latest Stock Analysis on Zions Bancorporation, National Association

Zions Bancorporation, National Association Price Performance

Zions Bancorporation, National Association stock traded down $0.62 during mid-day trading on Tuesday, reaching $61.11. 925,251 shares of the company were exchanged, compared to its average volume of 2,035,325. The firm has a market cap of $9.03 billion, a PE ratio of 13.92, a PEG ratio of 5.36 and a beta of 1.07. Zions Bancorporation, National Association has a 12 month low of $33.66 and a 12 month high of $63.22. 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 company has a fifty day simple moving average of $52.11 and a 200-day simple moving average of $47.80.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same quarter in the prior year, the business posted $1.13 earnings per share. As a group, equities research analysts expect 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 was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.81%. This is a boost from Zions Bancorporation, National Association's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 39.18%.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 3,605 shares of the 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 transaction, the executive vice president now owns 24,714 shares of the company's stock, valued at approximately $1,434,894.84. This represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the sale, the vice president now directly owns 35,878 shares in the company, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,375 shares of company stock worth $527,748 over the last three months. Insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Profile

(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.

Further Reading

Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

Should you invest $1,000 in Zions Bancorporation, National Association right now?

Before you consider Zions Bancorporation, National Association, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zions Bancorporation, National Association wasn't on the list.

While Zions Bancorporation, National Association currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2024 Cover

With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

MicroStrategy Stock: Riding Bitcoin’s Wave to New Highs
How Abacus Life is Transforming Life Insurance into Assets | MarketBeat CEO Series
NVIDIA Earnings: Can Blackwell Propel the Stock to $200+ in 2025?

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines