TrinityPoint Wealth LLC Buys New Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

TrinityPoint Wealth LLC purchased a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,352 shares of the bank’s stock, valued at approximately $206,000.

A number of other institutional investors have also modified their holdings of ZION. Dimensional Fund Advisors LP lifted its stake in shares of 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 valued at $271,003,000 after purchasing an additional 929,251 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of 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 acquiring an additional 538,049 shares during the period. Bank of New York Mellon Corp raised its position in shares of Zions Bancorporation, National Association by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock worth $74,784,000 after acquiring an additional 5,609 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of 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 acquiring an additional 90,234 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of 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 valued at $43,294,000 after acquiring an additional 433,513 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Buying and Selling

In related news, VP Eric Ellingsen sold 1,238 shares of the company’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 completion of the transaction, the vice president now directly owns 35,878 shares of the company’s stock, valued at $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s 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. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,228 shares of company stock valued at $519,048 in the last three months. 2.22% of the stock is owned by corporate insiders.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $59.19 on Tuesday. Zions Bancorporation, National Association has a 52 week low of $33.66 and a 52 week high of $61.80. The stock’s fifty day moving average is $50.72 and its two-hundred day moving average is $47.24. The company has a market capitalization of $8.74 billion, a P/E ratio of 13.48, a P/E/G ratio of 5.27 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter in the prior year, the company posted $1.13 earnings per share. Equities analysts expect that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 2.91%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.18%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Argus lowered Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company boosted 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 report on Friday. StockNews.com raised shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird boosted their target price on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.59.

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.