Pathstone Holdings LLC Increases Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Pathstone Holdings LLC boosted its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 8.7% during the third quarter, Holdings Channel.com reports. The fund owned 116,348 shares of the bank’s stock after acquiring an additional 9,298 shares during the period. Pathstone Holdings LLC’s holdings in Zions Bancorporation, National Association were worth $5,494,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. 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 purchasing an additional 929,251 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Zions Bancorporation, National Association by 25.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after buying an additional 538,049 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Zions Bancorporation, National Association by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock valued at $74,784,000 after buying an additional 5,609 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of Zions Bancorporation, National Association by 9.7% during the second quarter. Wedge Capital Management L L P NC now owns 1,019,182 shares of the bank’s stock valued at $44,202,000 after acquiring an additional 90,234 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Zions Bancorporation, National Association by 75.0% during the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after acquiring an additional 433,513 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock opened at $60.58 on Friday. Zions Bancorporation, National Association has a 1 year low of $33.66 and a 1 year high of $61.80. The firm’s 50-day moving average is $51.81 and its 200 day moving average is $47.63. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 5.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

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, topping the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS 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. Shareholders of record on Thursday, November 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.84%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 39.18%.

Insiders Place Their Bets

In related news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the sale, the vice president now owns 35,878 shares in the company, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $209,306.30. Following the completion of the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at approximately $1,434,894.84. This trade represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,228 shares of company stock valued at $519,048. Corporate insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ZION. Barclays boosted 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 research report on Tuesday, October 22nd. Robert W. Baird increased their price target on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price objective on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their target price on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. One investment analyst has 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, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average target price of $54.63.

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.