Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,259 shares of the bank’s stock after selling 1,583 shares during the period. Pitcairn Co.’s holdings in Zions Bancorporation, National Association were worth $343,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. ORG Wealth Partners LLC purchased a new stake in Zions Bancorporation, National Association during the 3rd quarter worth $28,000. ORG Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association in the second quarter worth about $33,000. International Assets Investment Management LLC acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter valued at about $34,000. Rothschild Investment LLC purchased a new stake in shares of Zions Bancorporation, National Association during the 2nd quarter valued at about $39,000. Finally, Abich Financial Wealth Management LLC lifted its position in Zions Bancorporation, National Association by 49.7% during 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 in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Down 1.0 %

ZION stock opened at $61.11 on Wednesday. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 5.36 and a beta of 1.07. Zions Bancorporation, National Association has a 1-year low of $33.66 and a 1-year high of $63.22. The firm has a fifty day moving average price of $52.11 and a two-hundred day moving average price of $47.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION) last released 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. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. During the same quarter in the prior year, the business earned $1.13 earnings per share. Research analysts predict that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.43 dividend. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.81%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.18%.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $209,306.30. Following the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,434,894.84. The trade was a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares of the company’s stock, 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 in the last 90 days. 2.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on ZION shares. Royal Bank of Canada lifted their price objective on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on shares of Zions Bancorporation, National Association from $59.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday. Truist Financial upped their price objective on shares of 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. Morgan Stanley lifted their target price on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group reduced their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $55.13.

Zions Bancorporation, National Association Company 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.