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

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

Other large investors also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Zions Bancorporation, National Association during the 3rd quarter valued at about $583,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Zions Bancorporation, National Association during the third quarter valued at approximately $510,000. Sequoia Financial Advisors LLC lifted its position in Zions Bancorporation, National Association by 1.9% during 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 during the period. State Street Corp boosted its holdings in Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after purchasing an additional 896,889 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Zions Bancorporation, National Association by 14.2% in 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 during the period. 76.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ZION. UBS Group began coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price target on the stock. Morgan Stanley raised their target price on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price target on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird increased their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial boosted 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. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.71.

Insider Activity at Zions Bancorporation, National Association

In other news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of the company’s stock in a transaction on 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 approximately $5,265,325.92. The trade was a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,891 shares of company stock valued at $664,456. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Down 1.7 %

Shares of ZION opened at $57.26 on Friday. The business’s 50 day moving average is $56.64 and its 200 day moving average is $52.73. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 12-month low of $38.01 and a 12-month high of $63.22. The company has a market capitalization of $8.46 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Tuesday, January 21st. The bank reported $1.34 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 firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787.70 million. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Research analysts expect that Zions Bancorporation, National Association will post 5.23 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 13th will be given a $0.43 dividend. The ex-dividend date of this dividend 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%.

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.