10,340 Shares in Zions Bancorporation, National Association (NASDAQ:ZION) Acquired by Duality Advisers LP

Duality Advisers LP acquired a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 10,340 shares of the bank’s stock, valued at approximately $526,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in Zions Bancorporation, National Association by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 7,704,832 shares of the bank’s stock valued at $391,868,000 after buying an additional 516,551 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Zions Bancorporation, National Association by 16.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,250,628 shares of the bank’s stock valued at $216,356,000 after buying an additional 596,753 shares during the period. JPMorgan Chase & Co. boosted its position in Zions Bancorporation, National Association by 0.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,047,881 shares of the bank’s stock valued at $155,137,000 after buying an additional 16,095 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Zions Bancorporation, National Association by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,041,099 shares of the bank’s stock valued at $199,375,000 after buying an additional 101,901 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Zions Bancorporation, National Association by 2.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,421,857 shares of the bank’s stock valued at $72,370,000 after buying an additional 33,837 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ZION. Stephens decreased their price target on shares of Zions Bancorporation, National Association from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 25th. Wells Fargo & Company reduced their price objective on shares of Zions Bancorporation, National Association from $66.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 25th. Keefe, Bruyette & Woods lowered shares of Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $77.00 to $72.00 in a report on Thursday, October 6th. Morgan Stanley reduced their price objective on shares of Zions Bancorporation, National Association from $65.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, December 13th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.08.

Insider Activity

In other news, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $52.05, for a total value of $123,774.90. Following the sale, the vice president now owns 15,172 shares of the company’s stock, valued at $789,702.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $52.05, for a total value of $123,774.90. Following the sale, the vice president now owns 15,172 shares of the company’s stock, valued at $789,702.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas E. Laursen sold 880 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $51.79, for a total transaction of $45,575.20. Following the sale, the vice president now directly owns 27,007 shares in the company, valued at approximately $1,398,692.53. The disclosure for this sale can be found here. Insiders have sold a total of 18,032 shares of company stock valued at $905,391 over the last quarter. Corporate insiders own 1.81% of the company’s stock.

Zions Bancorporation, National Association Trading Down 1.7 %

Shares of Zions Bancorporation, National Association stock opened at $51.77 on Wednesday. Zions Bancorporation, National Association has a 1 year low of $45.21 and a 1 year high of $75.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $7.75 billion, a P/E ratio of 9.77, a PEG ratio of 2.75 and a beta of 1.15. The company’s fifty day moving average is $49.65 and its two-hundred day moving average is $52.20.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last issued its quarterly earnings data on Monday, January 23rd. The bank reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.18. Zions Bancorporation, National Association had a net margin of 27.18% and a return on equity of 17.78%. The company had revenue of $988.00 million for the quarter, compared to the consensus estimate of $873.05 million. During the same period last year, the firm posted $1.34 EPS. Analysts forecast that Zions Bancorporation, National Association will post 6.6 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 10th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Wednesday, November 9th. Zions Bancorporation, National Association’s payout ratio is 30.94%.

Zions Bancorporation, National Association announced that its board has approved a share repurchase program on Friday, October 28th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Zions Bancorporation, National Association Company Profile

(Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

Further Reading

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

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