Principal Financial Group Inc. Sells 64,643 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Principal Financial Group Inc. trimmed its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 11.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 502,555 shares of the bank’s stock after selling 64,643 shares during the period. Principal Financial Group Inc. owned 0.34% of Zions Bancorporation, National Association worth $21,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ZION. Fidelis Capital Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association in the first quarter worth $27,000. Federated Hermes Inc. increased its stake in Zions Bancorporation, National Association by 105.4% in the 4th quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock worth $28,000 after acquiring an additional 331 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at about $29,000. ORG Partners LLC bought a new stake in shares of Zions Bancorporation, National Association during the 2nd quarter valued at about $33,000. Finally, Quarry LP purchased a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth about $49,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZION has been the topic of a number of recent analyst reports. Wedbush raised their target price on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Robert W. Baird upped their target price on shares of Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Compass Point increased their target price on Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Argus lowered Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.61.

Insiders Place Their Bets

In other news, President Scott J. Mclean sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the transaction, the president now directly owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $51.78, for a total value of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares in the company, valued at $1,275,859.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Scott J. Mclean sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the transaction, the president now owns 74,286 shares in the company, valued at approximately $3,850,243.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,073 shares of company stock worth $3,476,298. 2.22% of the stock is currently owned by company insiders.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock opened at $49.56 on Tuesday. The stock has a market capitalization of $7.32 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.99 and a beta of 1.10. Zions Bancorporation, National Association has a one year low of $28.90 and a one year high of $53.32. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50 day simple moving average is $47.20 and its two-hundred day simple moving average is $43.60.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. The firm had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 earnings per share. Analysts forecast that Zions Bancorporation, National Association will post 4.53 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Thursday, August 15th. Zions Bancorporation, National Association’s payout ratio is 41.21%.

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.