Neville Rodie & Shaw Inc. Invests $477,000 in Zions Bancorporation, National Association (NASDAQ:ZION)

Neville Rodie & Shaw Inc. acquired a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) in the 4th quarter, HoldingsChannel reports. The fund acquired 8,800 shares of the bank’s stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its position in Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after buying an additional 896,889 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Zions Bancorporation, National Association by 17.5% in the second 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Zions Bancorporation, National Association by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock valued at $221,367,000 after purchasing an additional 140,084 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after purchasing an additional 538,049 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Zions Bancorporation, National Association by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock valued at $124,592,000 after purchasing an additional 30,030 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Trading Up 0.2 %

Shares of ZION stock opened at $55.02 on Tuesday. The company has a market capitalization of $8.13 billion, a P/E ratio of 12.53, a P/E/G ratio of 5.10 and a beta of 1.12. Zions Bancorporation, National Association has a 12-month low of $37.76 and a 12-month high of $63.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $57.00 and a 200 day moving average price of $50.82.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The company 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 previous year, the company posted $1.13 earnings per share. Research analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group began coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price target on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial raised their price objective on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price objective on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Royal Bank of Canada upped their target price on 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. One investment 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’s stock. According to data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and an average price target of $57.50.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 of the company’s stock, valued at $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction 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. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is owned by corporate insiders.

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.