Martingale Asset Management L P Acquires New Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Martingale Asset Management L P acquired a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 31,142 shares of the bank’s stock, valued at approximately $1,471,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank increased its holdings in shares of Zions Bancorporation, National Association by 331.1% in the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock worth $5,159,000 after purchasing an additional 91,289 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Zions Bancorporation, National Association in the 1st quarter worth $878,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Zions Bancorporation, National Association by 223.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 41,401 shares of the bank’s stock worth $1,797,000 after purchasing an additional 28,600 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter worth $510,000. Finally, SG Americas Securities LLC increased its holdings in shares of Zions Bancorporation, National Association by 222.9% in the 2nd quarter. SG Americas Securities LLC now owns 42,852 shares of the bank’s stock worth $1,858,000 after purchasing an additional 29,579 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock opened at $60.52 on Monday. The stock’s 50-day simple moving average is $53.17 and its 200-day simple moving average is $48.24. Zions Bancorporation, National Association has a 52 week low of $35.07 and a 52 week high of $63.22. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 5.36 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $781.63 million. During the same period in the previous year, the business earned $1.13 earnings per share. As a group, analysts expect that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal 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 given a $0.43 dividend. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s payout ratio is currently 39.18%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZION. JPMorgan Chase & Co. reduced their target price on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Compass Point lifted their price objective on Zions Bancorporation, National Association from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Jefferies Financial Group cut their price objective on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. Keefe, Bruyette & Woods lifted their price objective on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley lifted their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus price target of $55.13.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 3,605 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $209,306.30. Following the sale, the executive vice president now directly owns 24,714 shares in the company, valued at approximately $1,434,894.84. The trade was a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction dated 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 $5,265,325.92. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,881 shares of company stock worth $1,108,184. Corporate insiders own 2.22% of the company’s stock.

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.