MML Investors Services LLC Takes Position in Zions Bancorporation, National Association (NASDAQ:ZION)

MML Investors Services LLC bought a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) during the third quarter, Holdings Channel reports. The fund bought 4,751 shares of the bank’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZION. ORG Wealth Partners LLC acquired a new position in shares of Zions Bancorporation, National Association in the 3rd quarter valued at about $28,000. International Assets Investment Management LLC purchased a new stake in Zions Bancorporation, National Association during the second quarter worth approximately $34,000. Rothschild Investment LLC acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter worth $39,000. Allspring Global Investments Holdings LLC increased its position in shares of Zions Bancorporation, National Association by 68.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock worth $56,000 after acquiring an additional 526 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 26.4% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after acquiring an additional 296 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Price Performance

Shares of ZION opened at $55.35 on Friday. Zions Bancorporation, National Association has a 52 week low of $37.76 and a 52 week high of $63.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 5.10 and a beta of 1.10. The stock has a 50 day moving average of $56.59 and a 200-day moving average of $50.05.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $781.63 million. During the same period in the prior year, the company earned $1.13 earnings per share. As a group, analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current 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 issued a $0.43 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 3.11%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 39.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZION. Wells Fargo & Company increased their price target on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. UBS Group assumed coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reduced their target price on shares of 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. Finally, Royal Bank of Canada raised their price target on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.06.

Insider Activity

In related news, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the transaction, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at $1,321,210.44. The trade was a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,881 shares of company stock valued at $1,108,184. 2.22% of the stock is currently owned by insiders.

Zions Bancorporation, National Association 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.