Delta Capital Management LLC Takes $242,000 Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Delta Capital Management LLC purchased a new position in Zions Bancorporation, National Association (NASDAQ:ZION) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,460 shares of the bank’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp raised its stake in shares of Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after buying an additional 896,889 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Zions Bancorporation, National Association by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock worth $221,367,000 after acquiring an additional 140,084 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Zions Bancorporation, National Association by 25.1% in 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 acquiring an additional 538,049 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Zions Bancorporation, National Association by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock valued at $124,592,000 after purchasing an additional 30,030 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Zions Bancorporation, National Association by 75.0% in 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. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, National Association Stock Up 1.3 %

Zions Bancorporation, National Association stock opened at $58.04 on Friday. Zions Bancorporation, National Association has a twelve month low of $37.76 and a twelve month high of $63.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $8.57 billion, a PE ratio of 13.22, a P/E/G ratio of 2.86 and a beta of 1.12. The firm’s 50 day moving average price is $57.30 and its two-hundred day moving average price is $51.60.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same period in the prior year, the business posted $1.13 earnings per share. On average, research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend 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 payout ratio is currently 39.18%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Truist Financial lifted their target price on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, January 7th. Finally, UBS Group assumed 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. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.25.

Insider Activity at Zions Bancorporation, National Association

In other news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction 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. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction on Wednesday, October 30th. The shares were 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. The trade was a 15.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,881 shares of company stock valued at $1,108,184. 2.22% of the stock is owned by corporate insiders.

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.