Daiwa Securities Group Inc. Takes $477,000 Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Daiwa Securities Group Inc. bought a new position in Zions Bancorporation, National Association (NASDAQ:ZION) during the third quarter, Holdings Channel reports. The firm bought 10,100 shares of the bank’s stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Zions Bancorporation, National Association by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after acquiring an additional 929,251 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Zions Bancorporation, National Association by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock worth $221,367,000 after purchasing an additional 140,084 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Zions Bancorporation, National Association by 25.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after purchasing an additional 538,049 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Zions Bancorporation, National Association by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock valued at $74,784,000 after purchasing an additional 5,609 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in Zions Bancorporation, National Association by 9.7% during the second quarter. Wedge Capital Management L L P NC now owns 1,019,182 shares of the bank’s stock valued at $44,202,000 after purchasing an additional 90,234 shares during the last quarter. 76.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ZION shares. Truist Financial upped their target price 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. Royal Bank of Canada upped their price objective on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their target price on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird lifted their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One research 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. Based on data from MarketBeat, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and a consensus price target of $55.13.

Insider Activity

In related news, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the transaction, the executive vice president now owns 86,232 shares of the company’s stock, valued at $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Stock Down 0.3 %

Shares of NASDAQ ZION opened at $60.52 on Friday. Zions Bancorporation, National Association has a 52-week low of $35.07 and a 52-week high of $63.22. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 5.37 and a beta of 1.07. The stock has a 50 day moving average price of $53.17 and a 200 day moving average price of $48.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results 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 return on equity of 13.89% and a net margin of 14.09%. During the same period in the prior year, the business earned $1.13 EPS. Sell-side analysts expect that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.43 per share. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 2.84%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.18%.

About Zions Bancorporation, National Association

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.