CIBC Asset Management Inc Takes $202,000 Position in Zions Bancorporation, National Association (NASDAQ:ZION)

CIBC Asset Management Inc purchased a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,287 shares of the bank’s stock, valued at approximately $202,000.

A number of other large investors have also added to or reduced their stakes in ZION. CVA Family Office LLC boosted its stake in Zions Bancorporation, National Association by 0.9% in the third quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock valued at $1,191,000 after buying an additional 217 shares in the last quarter. Strategic Advocates LLC increased its position in Zions Bancorporation, National Association by 6.1% during the 2nd quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock worth $223,000 after purchasing an additional 296 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in Zions Bancorporation, National Association by 26.4% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after purchasing an additional 296 shares during the last quarter. Centaurus Financial Inc. boosted its position in Zions Bancorporation, National Association by 8.3% in the second quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock valued at $170,000 after buying an additional 299 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 1.2% during the second quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock worth $1,174,000 after buying an additional 327 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction that occurred 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 owns 24,714 shares in the company, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the vice president now directly owns 35,878 shares of the company’s stock, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,228 shares of company stock worth $519,048. 2.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZION. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Truist Financial boosted their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective 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. Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, Stephens raised 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 research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.63.

Zions Bancorporation, National Association Stock Up 2.4 %

Shares of NASDAQ:ZION 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 company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $51.81 and its 200-day moving average is $47.65. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 5.23 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same period in the previous year, the firm earned $1.13 earnings per share. Equities research 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 business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 2.84%. Zions Bancorporation, National Association’s dividend payout ratio is currently 39.18%.

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.