Virtu Financial LLC Buys New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Virtu Financial LLC bought a new position in Zions Bancorporation, National Association (NASDAQ:ZION) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 12,341 shares of the bank’s stock, valued at approximately $583,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. bought a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter valued at $510,000. Dimensional Fund Advisors LP grew its holdings in Zions Bancorporation, National Association by 17.5% in the second 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 during the period. Sequoia Financial Advisors LLC increased its stake in Zions Bancorporation, National Association by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock valued at $1,302,000 after purchasing an additional 506 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Zions Bancorporation, National Association by 75.0% during the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after purchasing an additional 433,513 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Zions Bancorporation, National Association by 14.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 351,148 shares of the bank’s stock worth $16,581,000 after purchasing an additional 43,720 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eric Ellingsen sold 1,238 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the sale, the vice president now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,881 shares of company stock valued at $1,108,184. Company insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ZION. Truist Financial upped their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their target price on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Barclays lifted their price target on shares of Zions Bancorporation, National Association from $47.00 to $52.00 and gave the company an “underweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective 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, November 15th. Finally, Stephens lifted their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.88.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $57.67 on Friday. The stock has a 50 day moving average of $55.62 and a 200 day moving average of $49.29. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 5.10 and a beta of 1.10. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data 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. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, sell-side analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.18%.

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.