State of Alaska Department of Revenue Raises Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

State of Alaska Department of Revenue boosted its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 7.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,158 shares of the bank’s stock after purchasing an additional 1,160 shares during the period. State of Alaska Department of Revenue’s holdings in Zions Bancorporation, National Association were worth $810,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in Zions Bancorporation, National Association by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock worth $1,947,000 after purchasing an additional 348 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Zions Bancorporation, National Association by 11.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,035 shares of the bank’s stock worth $4,183,000 after purchasing an additional 9,393 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Zions Bancorporation, National Association in the third quarter valued at about $206,000. Assenagon Asset Management S.A. boosted its holdings in shares of Zions Bancorporation, National Association by 124.9% in the third quarter. Assenagon Asset Management S.A. now owns 290,165 shares of the bank’s stock valued at $13,702,000 after acquiring an additional 161,118 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Zions Bancorporation, National Association by 4,621.0% in the third quarter. International Assets Investment Management LLC now owns 37,485 shares of the bank’s stock valued at $1,770,000 after acquiring an additional 36,691 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,321,210.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 $52.02 on Wednesday. The firm has a 50 day simple moving average of $48.57 and a 200-day simple moving average of $46.03. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $7.68 billion, a PE ratio of 11.85, a P/E/G ratio of 1.82 and a beta of 1.07. Zions Bancorporation, National Association has a 1-year low of $32.18 and a 1-year high of $53.85.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates 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 business posted $1.13 earnings per share. On average, equities analysts expect that Zions Bancorporation, National Association will post 4.79 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is currently 37.36%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZION. Morgan Stanley lifted their target price on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lowered their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. StockNews.com upgraded shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Stephens raised their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Zions Bancorporation, National Association from $50.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $53.12.

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.