First Trust Direct Indexing L.P. lifted its holdings in Zions Bancorporation, National Association (NASDAQ:ZION – Free Report) by 118.5% during the first quarter, HoldingsChannel.com reports. The firm owned 9,900 shares of the bank’s stock after purchasing an additional 5,370 shares during the period. First Trust Direct Indexing L.P.’s holdings in Zions Bancorporation, National Association were worth $296,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in Zions Bancorporation, National Association by 4.4% during the third quarter. State Street Corp now owns 7,299,350 shares of the bank’s stock worth $371,245,000 after buying an additional 304,725 shares during the last quarter. LSV Asset Management increased its holdings in Zions Bancorporation, National Association by 16.2% during the fourth quarter. LSV Asset Management now owns 4,719,478 shares of the bank’s stock worth $232,010,000 after buying an additional 656,756 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Zions Bancorporation, National Association by 9.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,606,226 shares of the bank’s stock valued at $177,282,000 after purchasing an additional 323,345 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,192,090 shares of the bank’s stock valued at $156,769,000 after purchasing an additional 89,154 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Zions Bancorporation, National Association by 25.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,835,813 shares of the bank’s stock valued at $139,408,000 after purchasing an additional 577,744 shares during the last quarter. Institutional investors own 85.56% of the company’s stock.
Insider Transactions at Zions Bancorporation, National Association
In related news, President Scott J. Mclean bought 37,000 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was purchased at an average price of $27.44 per share, with a total value of $1,015,280.00. Following the completion of the acquisition, the president now owns 104,540 shares of the company’s stock, valued at $2,868,577.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, President Scott J. Mclean bought 37,000 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was purchased at an average price of $27.44 per share, with a total value of $1,015,280.00. Following the completion of the acquisition, the president now owns 104,540 shares of the company’s stock, valued at $2,868,577.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Claire A. Huang bought 18,000 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was bought at an average cost of $20.02 per share, with a total value of $360,360.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $360,360. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 105,000 shares of company stock valued at $2,611,040. 1.81% of the stock is currently owned by insiders.
Zions Bancorporation, National Association Trading Up 2.1 %
Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) last posted its quarterly earnings data on Wednesday, April 19th. The bank reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.18). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $844.33 million. Zions Bancorporation, National Association had a return on equity of 19.48% and a net margin of 24.41%. During the same period in the prior year, the company earned $1.27 EPS. Analysts predict that Zions Bancorporation, National Association will post 4.5 EPS for the current fiscal year.
Zions Bancorporation, National Association Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Thursday, May 18th were issued a $0.41 dividend. The ex-dividend date was Wednesday, May 17th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.23%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 27.99%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Zions Bancorporation, National Association from $56.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. Hovde Group assumed coverage on shares of Zions Bancorporation, National Association in a report on Monday, May 22nd. They issued an “outperform” rating and a $40.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Zions Bancorporation, National Association from $59.00 to $34.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. Jefferies Financial Group downgraded shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating and decreased their price objective for the company from $37.00 to $30.00 in a report on Tuesday, July 11th. Finally, Wells Fargo & Company decreased their price objective on shares of Zions Bancorporation, National Association from $38.00 to $32.00 in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus price target of $42.60.
About Zions Bancorporation, National Association
Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.
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