Summit Trail Advisors LLC Lowers Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Summit Trail Advisors LLC lessened its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,053 shares of the bank’s stock after selling 363 shares during the quarter. Summit Trail Advisors LLC’s holdings in Zions Bancorporation, National Association were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank lifted its stake in shares of Zions Bancorporation, National Association by 331.1% in the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after purchasing an additional 91,289 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Zions Bancorporation, National Association during the 1st quarter valued at approximately $1,959,000. Cetera Advisors LLC bought a new position in Zions Bancorporation, National Association during the 1st quarter valued at approximately $878,000. Teachers Retirement System of The State of Kentucky increased its position in Zions Bancorporation, National Association by 223.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 41,401 shares of the bank’s stock valued at $1,797,000 after buying an additional 28,600 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in Zions Bancorporation, National Association during the 3rd quarter valued at approximately $510,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ZION shares. Wells Fargo & Company raised their price objective on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Wedbush raised their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI raised their price objective on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group reduced their target price on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus price target of $55.13.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $61.11 on Wednesday. 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 $33.66 and a one year high of $63.22. The firm has a market capitalization of $9.03 billion, a P/E ratio of 13.92, a PEG ratio of 5.36 and a beta of 1.07. The business has a fifty day moving average of $52.11 and a 200 day moving average of $47.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.81%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is presently 39.18%.

Insider Activity at Zions Bancorporation, National Association

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 Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $209,306.30. Following the transaction, the executive vice president now owns 24,714 shares in the company, valued at $1,434,894.84. This trade represents a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,375 shares of company stock worth $527,748. Corporate 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.