Cinctive Capital Management LP Takes $2.83 Million Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Cinctive Capital Management LP purchased a new position in Zions Bancorporation, National Association (NASDAQ:ZION) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 59,926 shares of the bank’s stock, valued at approximately $2,830,000.

Other institutional investors have also made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in shares of Zions Bancorporation, National Association in the third quarter worth about $28,000. ORG Partners LLC acquired a new position in shares of Zions Bancorporation, National Association in the second quarter valued at approximately $33,000. International Assets Investment Management LLC acquired a new position in shares of Zions Bancorporation, National Association in the second quarter valued at approximately $34,000. Rothschild Investment LLC bought a new stake in shares of Zions Bancorporation, National Association during the second quarter worth $39,000. Finally, New Millennium Group LLC acquired a new stake in shares of Zions Bancorporation, National Association during the second quarter worth $55,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $59.92 on Tuesday. Zions Bancorporation, National Association has a 12-month low of $37.05 and a 12-month high of $63.22. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 5.36 and a beta of 1.10. The stock’s 50 day moving average price is $53.17 and its two-hundred day moving average price is $48.26. 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 quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 business 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 business earned $1.13 EPS. On average, analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 39.18%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price objective on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price target on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Wedbush lifted their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.13.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 24,714 shares in the company, valued at $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. In the last 90 days, insiders have sold 18,881 shares of company stock worth $1,108,184. 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.