Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 338,505 shares of the bank’s stock after selling 3,193 shares during the period. Principal Financial Group Inc. owned about 0.23% of Zions Bancorporation, National Association worth $18,364,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Raymond James & Associates lifted its holdings in shares of Zions Bancorporation, National Association by 65.0% during the third quarter. Raymond James & Associates now owns 85,285 shares of the bank’s stock valued at $4,027,000 after purchasing an additional 33,587 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Zions Bancorporation, National Association by 4,621.0% during the third quarter. International Assets Investment Management LLC now owns 37,485 shares of the bank’s stock valued at $1,770,000 after buying an additional 36,691 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Zions Bancorporation, National Association in the third quarter worth about $206,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Zions Bancorporation, National Association by 11.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,035 shares of the bank’s stock worth $4,183,000 after acquiring an additional 9,393 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Zions Bancorporation, National Association by 0.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock worth $1,947,000 after acquiring an additional 348 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada upped their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 22nd. Barclays raised their price objective on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 22nd. Finally, UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 target price on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association presently has an average rating of “Hold” and an average target price of $60.71.

Zions Bancorporation, National Association Stock Down 1.1 %

Zions Bancorporation, National Association stock opened at $52.85 on Tuesday. The company has a market capitalization of $7.81 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.61 and a beta of 1.11. Zions Bancorporation, National Association has a 1-year low of $38.01 and a 1-year high of $63.22. The firm’s fifty day simple moving average is $55.93 and its 200-day simple moving average is $53.25. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Sell-side analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.25%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock repurchase program on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the sale, the executive vice president now directly owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the completion of the sale, the executive vice president now directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,713 shares of company stock worth $1,839,686 over the last 90 days. Insiders own 2.22% of the company’s stock.

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.