Wharton Business Group LLC Acquires New Shares in Zions Bancorporation, National Association (NASDAQ:ZION)

Wharton Business Group LLC acquired a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,460 shares of the bank’s stock, valued at approximately $211,000.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Zions Bancorporation, National Association by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after purchasing an additional 929,251 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised 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 worth $126,762,000 after purchasing an additional 538,049 shares during the last quarter. Bank of New York Mellon Corp raised its position in Zions Bancorporation, National Association by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock worth $74,784,000 after purchasing an additional 5,609 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Zions Bancorporation, National Association by 9.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 1,019,182 shares of the bank’s stock worth $44,202,000 after purchasing an additional 90,234 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in 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 worth $43,294,000 after purchasing an additional 433,513 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Transactions at Zions Bancorporation, National Association

In other news, VP Eric Ellingsen sold 1,238 shares of the business’s stock in a transaction that occurred on 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 $2,182,817.52. The trade was a 3.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 approximately $1,321,210.44. The trade was a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,228 shares of company stock worth $519,048 in the last 90 days. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Price Performance

ZION stock opened at $59.51 on Monday. The company has a market capitalization of $8.79 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 5.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. Zions Bancorporation, National Association has a 52-week low of $33.66 and a 52-week high of $61.80. The business has a 50-day simple moving average of $50.44 and a two-hundred day simple moving average of $47.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly 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. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. 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 fiscal year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is presently 39.18%.

Analyst Upgrades and Downgrades

ZION has been the subject of several analyst reports. Truist Financial raised their target price on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price objective 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. Royal Bank of Canada lifted their price objective on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. Stephens lifted their price objective on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has assigned 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 $53.59.

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.