Cerity Partners LLC Boosts Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Cerity Partners LLC raised its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 27.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,787 shares of the bank’s stock after purchasing an additional 6,683 shares during the quarter. Cerity Partners LLC’s holdings in Zions Bancorporation, National Association were worth $1,454,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in Zions Bancorporation, National Association by 56.5% in the first quarter. Cetera Investment Advisers now owns 42,811 shares of the bank’s stock worth $1,858,000 after purchasing an additional 15,458 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Zions Bancorporation, National Association during the 1st quarter worth $878,000. CWM LLC grew its holdings in Zions Bancorporation, National Association by 9.5% during the second quarter. CWM LLC now owns 20,104 shares of the bank’s stock valued at $872,000 after purchasing an additional 1,744 shares during the period. Strategic Advocates LLC grew its stake in shares of Zions Bancorporation, National Association by 6.1% during the 2nd quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock valued at $223,000 after acquiring an additional 296 shares during the period. Finally, Symmetry Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association in the second quarter worth $430,000. 76.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZION. Jefferies Financial Group cut their price objective on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. Barclays increased their target price on shares of Zions Bancorporation, National Association from $47.00 to $52.00 and gave the company an “underweight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Compass Point lifted their target price on Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Stephens boosted their price target on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and an average target price of $55.13.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION opened at $59.28 on Wednesday. The company has a 50 day simple moving average of $53.42 and a two-hundred day simple moving average of $48.36. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 5.30 and a beta of 1.10. Zions Bancorporation, National Association has a 12 month low of $37.05 and a 12 month 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.

Zions Bancorporation, National Association (NASDAQ:ZION) last released 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. 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 during the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share 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 paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is 39.18%.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association 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 transaction of $234,422.10. Following the completion of the transaction, the executive vice president now owns 24,714 shares in the company, valued at $1,321,210.44. The trade was a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 35,878 shares in the company, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,881 shares of company stock valued at $1,108,184. Corporate insiders own 2.22% of the company’s stock.

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.