Assenagon Asset Management S.A. Raises Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Assenagon Asset Management S.A. increased its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 124.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,165 shares of the bank’s stock after acquiring an additional 161,118 shares during the quarter. Assenagon Asset Management S.A. owned about 0.20% of Zions Bancorporation, National Association worth $13,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZION. Comerica Bank lifted its holdings in shares of Zions Bancorporation, National Association by 331.1% during the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after purchasing an additional 91,289 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Zions Bancorporation, National Association during the first quarter worth about $1,959,000. Retirement Systems of Alabama increased its holdings in shares of Zions Bancorporation, National Association by 469.8% during the first quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after acquiring an additional 153,387 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Zions Bancorporation, National Association by 345.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock valued at $3,831,000 after purchasing an additional 68,445 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Zions Bancorporation, National Association by 71.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock worth $5,136,000 after purchasing an additional 49,213 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Activity

In related news, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the transaction, the vice president now owns 17,857 shares in the company, valued at $925,528.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $51.34 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.84 and a debt-to-equity ratio of 0.09. Zions Bancorporation, National Association has a twelve month low of $28.98 and a twelve month high of $53.32. The stock has a 50-day moving average of $48.07 and a 200 day moving average of $45.50. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.93 and a beta of 1.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced 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. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. During the same period in the prior year, the company posted $1.13 EPS. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.6 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.41 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.19%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 41.21%.

Analyst Ratings Changes

ZION has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Wedbush increased their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Barclays raised their price objective on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 22nd. Evercore ISI dropped their target price on Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Argus lowered shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average target price of $52.82.

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.