MML Investors Services LLC Acquires New Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

MML Investors Services LLC bought a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,751 shares of the bank’s stock, valued at approximately $224,000.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after acquiring an additional 929,251 shares in the last quarter. State Street Corp boosted its holdings in Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after purchasing an additional 896,889 shares during the period. Artemis Investment Management LLP grew its stake in Zions Bancorporation, National Association by 165.0% during the 3rd quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after purchasing an additional 563,889 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after purchasing an additional 538,049 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Zions Bancorporation, National Association in the 3rd quarter valued at about $24,647,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association 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 approximately $2,182,817.52. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the 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 represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock worth $1,108,184 in the last ninety days. Insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZION. Truist Financial boosted their price target on shares of 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. UBS Group initiated coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Evercore ISI increased their target price on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.06.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $55.35 on Friday. The business has a 50 day moving average price of $56.59 and a 200 day moving average price of $50.05. 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 company has a market capitalization of $8.18 billion, a P/E ratio of 12.61, a PEG ratio of 5.10 and a beta of 1.10. Zions Bancorporation, National Association has a 1-year low of $37.76 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $781.63 million. During the same quarter in the previous year, the company posted $1.13 EPS. Sell-side analysts expect that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.11%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.18%.

About Zions Bancorporation, National Association

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.