Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 18.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,901 shares of the bank’s stock after purchasing an additional 16,866 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Zions Bancorporation, National Association worth $5,845,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Zions Bancorporation, National Association during the third quarter worth approximately $583,000. Cornercap Investment Counsel Inc. bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at $510,000. Sequoia Financial Advisors LLC raised its position in Zions Bancorporation, National Association by 1.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock worth $1,302,000 after purchasing an additional 506 shares during the period. State Street Corp boosted its position in Zions Bancorporation, National Association by 14.6% during the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after buying an additional 896,889 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of Zions Bancorporation, National Association by 14.2% during the third quarter. Los Angeles Capital Management LLC now owns 351,148 shares of the bank’s stock valued at $16,581,000 after buying an additional 43,720 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction dated 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 owns 35,878 shares of the company’s stock, valued at $2,182,817.52. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the sale, the executive vice president now directly owns 86,232 shares in the company, valued at $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,891 shares of company stock worth $664,456 in the last 90 days. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Price Performance

ZION opened at $57.26 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11. The stock has a fifty day simple moving average of $56.64 and a two-hundred day simple moving average of $52.73. Zions Bancorporation, National Association has a 12-month low of $38.01 and a 12-month high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. During the same period last year, the business earned $0.78 EPS. Zions Bancorporation, National Association’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts predict that Zions Bancorporation, National Association will post 5.23 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th will be given a $0.43 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.00%. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Analysts Set New Price Targets

ZION has been the subject of a number of recent research reports. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, January 7th. Truist Financial increased their price objective on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. DA Davidson lifted their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.71.

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.