Wellington Management Group LLP Acquires New Shares in Zions Bancorporation, National Association (NASDAQ:ZION)

Wellington Management Group LLP acquired a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) in the third quarter, according to its most recent filing with the SEC. The fund acquired 521,968 shares of the bank’s stock, valued at approximately $24,647,000. Wellington Management Group LLP owned approximately 0.35% of Zions Bancorporation, National Association at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. CVA Family Office LLC grew its stake in 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 in the last quarter. Abich Financial Wealth Management LLC grew its stake in Zions Bancorporation, National Association by 26.4% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after buying an additional 296 shares in the last quarter. Centaurus Financial Inc. grew 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 purchasing an additional 299 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew 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 purchasing an additional 348 shares in the last quarter. Finally, WBI Investments LLC grew its position in shares of Zions Bancorporation, National Association by 3.4% during the 2nd quarter. WBI Investments LLC now owns 10,591 shares of the bank’s stock valued at $459,000 after purchasing an additional 352 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 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 legal filing with the SEC, which is accessible through this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of the company’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 transaction, the vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 18,881 shares of company stock valued at $1,108,184. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $57.67 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $8.52 billion, a PE ratio of 13.14, a P/E/G ratio of 5.20 and a beta of 1.10. The firm has a fifty day simple moving average of $55.62 and a two-hundred day simple moving average of $49.24. Zions Bancorporation, National Association has a twelve month low of $37.76 and a twelve month high of $63.22.

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, beating the consensus estimate 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 net margin of 14.09% and a return on equity of 13.89%. During the same period in the prior year, the firm posted $1.13 earnings per share. Research analysts expect 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. Stockholders of record on Thursday, November 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.98%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is 39.18%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ZION. Stephens boosted their price target 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. Morgan Stanley boosted their price target 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. Evercore ISI lifted their price objective on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research raised shares of Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. Finally, Compass Point lifted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seventeen have given 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 an average price target of $55.88.

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.