Harvest Fund Management Co. Ltd Sells 268 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Harvest Fund Management Co. Ltd lessened its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 20.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,023 shares of the bank’s stock after selling 268 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Zions Bancorporation, National Association were worth $48,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ZION. ORG Wealth Partners LLC bought a new stake in shares of Zions Bancorporation, National Association in the third quarter valued at about $28,000. ORG Partners LLC bought a new stake in shares of Zions Bancorporation, National Association in the second quarter valued at about $33,000. International Assets Investment Management LLC acquired a new position in Zions Bancorporation, National Association in the second quarter valued at about $34,000. Rothschild Investment LLC acquired a new position in Zions Bancorporation, National Association in the second quarter valued at about $39,000. Finally, Abich Financial Wealth Management LLC raised its stake in Zions Bancorporation, National Association by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock valued at $49,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

ZION has been the subject of a number of analyst reports. Robert W. Baird boosted their price target 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. Jefferies Financial Group dropped their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Compass Point boosted their price target on Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their target price on 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. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.13.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $60.68 on Thursday. The business has a 50 day moving average of $52.40 and a 200-day moving average of $47.92. Zions Bancorporation, National Association has a 1 year low of $33.74 and a 1 year high of $63.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $8.96 billion, a P/E ratio of 13.82, a P/E/G ratio of 5.46 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $1.13 earnings per share. On average, equities research analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend 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%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $209,306.30. Following the completion of the sale, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,434,894.84. This trade represents a 12.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $75,319.92. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,375 shares of company stock worth $527,748. 2.22% of the stock is currently owned by insiders.

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.