Daiwa Securities Group Inc. Takes $477,000 Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Daiwa Securities Group Inc. bought a new position in Zions Bancorporation, National Association (NASDAQ:ZION) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,100 shares of the bank’s stock, valued at approximately $477,000.

A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Zions Bancorporation, National Association by 17.5% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 140,084 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Zions Bancorporation, National Association by 25.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after buying an additional 538,049 shares during the period. Bank of New York Mellon Corp boosted 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 valued at $74,784,000 after acquiring an additional 5,609 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Zions Bancorporation, National Association by 9.7% in 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 acquiring an additional 90,234 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $60.52 on Friday. The firm has a market capitalization of $8.94 billion, a P/E ratio of 13.79, a PEG ratio of 5.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. Zions Bancorporation, National Association has a one year low of $35.07 and a one year high of $63.22. The business has a fifty day moving average of $53.17 and a 200 day moving average of $48.21.

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. 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 the consensus estimate of $781.63 million. During the same period in the previous year, the company posted $1.13 EPS. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 39.18%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ZION shares. Stephens lifted their price target on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Compass Point upped their target price on shares of Zions Bancorporation, National Association from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Evercore ISI upped their price objective on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, National Association has an average rating of “Hold” and an average target price of $55.13.

Insider Activity

In related news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the transaction, the vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of the company’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 of the company’s stock, valued at approximately $5,265,325.92. The trade was a 9.93 % 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 90 days. Company insiders own 2.22% of the company’s stock.

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.