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

Principal Financial Group Inc. trimmed its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 32.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,698 shares of the bank’s stock after selling 160,857 shares during the period. Principal Financial Group Inc.’s holdings in Zions Bancorporation, National Association were worth $16,135,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ZION. ORG Wealth Partners LLC acquired a new stake in Zions Bancorporation, National Association in the third quarter valued at approximately $28,000. International Assets Investment Management LLC bought a new position in shares of Zions Bancorporation, National Association in the 2nd quarter worth $34,000. Rothschild Investment LLC acquired a new stake in Zions Bancorporation, National Association in the 2nd quarter valued at $39,000. Allspring Global Investments Holdings LLC increased its stake in Zions Bancorporation, National Association by 68.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock valued at $56,000 after purchasing an additional 526 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised its holdings in Zions Bancorporation, National Association by 26.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after buying an additional 296 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZION has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Zions Bancorporation, National Association from $47.00 to $52.00 and gave the company an “underweight” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Morgan Stanley increased their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Compass Point lifted their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Stephens upped their price target on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.06.

Zions Bancorporation, National Association Trading Down 1.2 %

NASDAQ:ZION opened at $54.68 on Friday. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $56.66 and its 200 day moving average is $50.14. The stock has a market capitalization of $8.08 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. During the same period in the previous year, the company posted $1.13 earnings per share. 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 disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 3.15%. Zions Bancorporation, National Association’s dividend payout ratio is 39.18%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction dated 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 transaction, the vice president now owns 35,878 shares of the company’s stock, valued at $2,182,817.52. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the sale, the executive vice president now directly owns 24,714 shares in the company, valued at $1,321,210.44. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock worth $1,108,184 over the last quarter. 2.22% of the stock is currently owned by company insiders.

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.