Assenagon Asset Management S.A. Sells 159,648 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Assenagon Asset Management S.A. trimmed its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 55.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,517 shares of the bank’s stock after selling 159,648 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of Zions Bancorporation, National Association worth $7,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Zions Bancorporation, National Association by 14.6% during 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 in the last quarter. Artemis Investment Management LLP grew its stake in shares of Zions Bancorporation, National Association by 165.0% in the 3rd quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after buying an additional 563,889 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position 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 valued at $126,762,000 after buying an additional 538,049 shares in the last quarter. Wellington Management Group LLP purchased a new position in Zions Bancorporation, National Association during the third quarter valued at $24,647,000. Finally, AQR Capital Management LLC boosted its holdings in Zions Bancorporation, National Association by 75.0% in the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after acquiring an additional 433,513 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION opened at $58.04 on Monday. Zions Bancorporation, National Association has a 12-month low of $37.76 and a 12-month high of $63.22. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.12. 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 50 day moving average of $57.30 and a 200 day moving average of $51.66.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The firm 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 firm posted $1.13 EPS. On average, research analysts anticipate that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.96%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is currently 39.18%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Paul E. Burdiss sold 9,506 shares of the 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 owns 86,232 shares in the company, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,881 shares of company stock worth $1,108,184. Company insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

ZION has been the subject of several recent analyst reports. UBS Group began coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company. Royal Bank of Canada lifted their target price 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. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, January 7th. Wells Fargo & Company boosted their price objective 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, Barclays increased their target price on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.25.

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.