Geode Capital Management LLC Grows Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Geode Capital Management LLC increased its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,637,917 shares of the bank’s stock after purchasing an additional 30,030 shares during the quarter. Geode Capital Management LLC owned 1.79% of Zions Bancorporation, National Association worth $124,592,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of Zions Bancorporation, National Association by 3.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,961 shares of the bank’s stock worth $475,000 after buying an additional 372 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Zions Bancorporation, National Association in the second quarter valued at about $198,000. Family Firm Inc. acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter valued at approximately $57,000. Clear Creek Financial Management LLC increased its stake in shares of Zions Bancorporation, National Association by 2.7% during the 2nd quarter. Clear Creek Financial Management LLC now owns 14,500 shares of the bank’s stock worth $629,000 after purchasing an additional 380 shares in the last quarter. Finally, New Millennium Group LLC acquired a new position in shares of Zions Bancorporation, National Association during the 2nd quarter worth approximately $55,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on ZION shares. Morgan Stanley increased their target price on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Jefferies Financial Group cut their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company raised their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Finally, Evercore ISI boosted their price objective on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.06.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, VP Eric Ellingsen sold 1,238 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the transaction, the vice president now owns 35,878 shares in the company, valued at approximately $2,182,817.52. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 3,605 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $209,306.30. Following the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,434,894.84. This trade represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,881 shares of company stock valued at $1,108,184 in the last ninety days. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Down 2.5 %

Shares of NASDAQ ZION opened at $56.22 on Wednesday. The stock has a fifty day moving average price of $56.00 and a 200 day moving average price of $49.54. 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 12-month low of $37.76 and a 12-month high of $63.22. The company has a market cap of $8.30 billion, a P/E ratio of 12.81, a P/E/G ratio of 5.10 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results 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 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 analyst estimates of $781.63 million. During the same quarter last year, the firm earned $1.13 earnings per share. Research analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.43 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is currently 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.