Raymond James & Associates Acquires 33,587 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Raymond James & Associates boosted its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 65.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,285 shares of the bank’s stock after buying an additional 33,587 shares during the period. Raymond James & Associates owned approximately 0.06% of Zions Bancorporation, National Association worth $4,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new position in Zions Bancorporation, National Association during the third quarter valued at approximately $28,000. Fidelis Capital Partners LLC bought a new position in Zions Bancorporation, National Association during the first quarter valued at approximately $27,000. ORG Partners LLC bought a new position in Zions Bancorporation, National Association during the second quarter valued at approximately $33,000. International Assets Investment Management LLC bought a new position in Zions Bancorporation, National Association during the second quarter valued at approximately $34,000. Finally, Rothschild Investment LLC bought a new position in Zions Bancorporation, National Association during the second quarter valued at approximately $39,000. 76.84% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the transaction, the executive vice president now directly owns 24,714 shares in the company, valued at approximately $1,321,210.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Trading Down 1.2 %

Shares of NASDAQ ZION opened at $51.44 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $48.53 and a two-hundred day simple moving average of $45.86. The firm has a market cap of $7.60 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Zions Bancorporation, National Association has a twelve month low of $31.63 and a twelve month high of $53.85.

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, beating analysts’ consensus estimates of $1.16 by $0.21. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same period in the previous year, the company posted $1.13 EPS. Analysts expect that Zions Bancorporation, National Association will post 4.79 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.43 dividend. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.34%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 37.36%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Truist Financial upped their price objective on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Argus downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. 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 analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus price target of $53.12.

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.