Wellington Management Group LLP Purchases New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Wellington Management Group LLP purchased a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 521,968 shares of the bank’s stock, valued at approximately $24,647,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in Zions Bancorporation, National Association in the third quarter worth about $28,000. ORG Partners LLC purchased a new stake in Zions Bancorporation, National Association in the second quarter worth about $33,000. International Assets Investment Management LLC purchased a new stake in Zions Bancorporation, National Association in the second quarter worth about $34,000. Rothschild Investment LLC purchased a new stake in Zions Bancorporation, National Association in the second quarter worth about $39,000. Finally, New Millennium Group LLC purchased a new stake in Zions Bancorporation, National Association in the second quarter worth about $55,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Down 0.8 %

ZION opened at $57.67 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a 1-year low of $37.76 and a 1-year high of $63.22. The company has a market capitalization of $8.52 billion, a PE ratio of 13.14, a PEG ratio of 5.20 and a beta of 1.10. The firm’s 50 day simple moving average is $55.62 and its two-hundred day simple moving average is $49.24.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. During the same period last year, the firm earned $1.13 earnings per share. As a group, equities analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 2.98%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 39.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZION shares. Barclays upped their price objective on shares of Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a report on Tuesday, October 22nd. Morgan Stanley upped their target price on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Compass Point upped their target price on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group dropped their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Wednesday, September 11th. Finally, Truist Financial upped their target price on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. One equities 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, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average target price of $55.88.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction on Tuesday, November 26th. The shares were 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 $5,265,325.92. This represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $234,422.10. Following the completion of the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,881 shares of company stock worth $1,108,184. Company insiders own 2.22% of the company’s stock.

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.