Taika Capital LP Takes $752,000 Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Taika Capital LP bought a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 15,931 shares of the bank’s stock, valued at approximately $752,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC increased its stake in shares of Zions Bancorporation, National Association by 0.9% in the 3rd quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock valued at $1,191,000 after buying an additional 217 shares during the period. Abich Financial Wealth Management LLC raised its position in shares of Zions Bancorporation, National Association by 26.4% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after acquiring an additional 296 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of Zions Bancorporation, National Association by 8.3% during the 2nd quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock valued at $170,000 after acquiring an additional 299 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Zions Bancorporation, National Association by 1.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock valued at $1,174,000 after acquiring an additional 327 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Zions Bancorporation, National Association by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock valued at $1,947,000 after acquiring an additional 348 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the sale, the executive vice president now directly owns 86,232 shares in the company, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the firm’s 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 owns 35,878 shares of the company’s stock, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,881 shares of company stock worth $1,108,184 in the last three months. Insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the subject of several recent research reports. Morgan Stanley upped their target price on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods upped their target price on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial upped their target price on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Stephens upped their target price on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird upped 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 research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.13.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $59.13 on Friday. The firm has a market cap of $8.73 billion, a PE ratio of 13.47, a PEG ratio of 5.23 and a beta of 1.10. 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 has a 1-year low of $37.05 and a 1-year high of $63.22. The company has a fifty day moving average price of $54.19 and a 200 day moving average price of $48.61.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same period in the prior year, the business earned $1.13 EPS. Research analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently disclosed 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 2.91%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is currently 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.