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

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

Other institutional investors have also bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in Zions Bancorporation, National Association in the third quarter valued at approximately $28,000. ORG Partners LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at $33,000. International Assets Investment Management LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at $34,000. Rothschild Investment LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at $39,000. Finally, Abich Financial Wealth Management LLC raised its holdings in Zions Bancorporation, National Association by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock valued at $49,000 after acquiring an additional 372 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Down 0.2 %

Shares of NASDAQ:ZION opened at $59.51 on Monday. Zions Bancorporation, National Association has a 52-week low of $33.66 and a 52-week high of $61.80. The firm has a fifty day moving average of $50.44 and a 200 day moving average of $47.12. The firm has a market capitalization of $8.79 billion, a PE 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 (NASDAQ:ZION) last announced its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $781.63 million. During the same period in the previous year, the business earned $1.13 earnings per share. As a group, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.89%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Analyst Ratings Changes

ZION has been the topic of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada boosted 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 report on Tuesday, October 22nd. The Goldman Sachs Group boosted their target price on shares of Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Wedbush upped their price target on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI upped their price target 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. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.59.

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the sale, the vice president now directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,228 shares of company stock worth $519,048 over the last three months. Company insiders own 2.22% of the company’s stock.

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.