Sanctuary Advisors LLC Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

Sanctuary Advisors LLC bought a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,791 shares of the bank’s stock, valued at approximately $226,000.

Several other hedge funds also recently modified their holdings of ZION. Virtu Financial LLC bought a new stake in Zions Bancorporation, National Association in the 3rd quarter worth about $583,000. Cornercap Investment Counsel Inc. bought a new position in shares of Zions Bancorporation, National Association in the third quarter worth $510,000. Dimensional Fund Advisors LP grew its position 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 valued at $271,003,000 after purchasing an additional 929,251 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Zions Bancorporation, National Association by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock worth $1,302,000 after buying an additional 506 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Zions Bancorporation, National Association by 75.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after purchasing an additional 433,513 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Insider Transactions at Zions Bancorporation, National Association

In related news, 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 completion of the transaction, the executive vice president now owns 24,714 shares in the company, valued at $1,321,210.44. This trade represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the sale, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Jefferies Financial Group decreased their price objective on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. Royal Bank of Canada upped their price objective on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Wedbush upped their target price on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Robert W. Baird boosted their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $57.06.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $54.68 on Monday. The company’s 50-day moving average is $56.66 and its two-hundred day moving average is $50.21. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10. Zions Bancorporation, National Association has a 12-month low of $37.76 and a 12-month high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $781.63 million. During the same quarter in the previous year, the business earned $1.13 EPS. Research analysts expect that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.43 per share. 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 dividend yield of 3.15%. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is currently 39.18%.

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.