Franklin Resources Inc. Grows Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Franklin Resources Inc. boosted its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,567 shares of the bank’s stock after acquiring an additional 24,414 shares during the quarter. Franklin Resources Inc.’s holdings in Zions Bancorporation, National Association were worth $10,195,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Clear Creek Financial Management LLC boosted its position in shares of Zions Bancorporation, National Association by 2.7% during the 2nd quarter. Clear Creek Financial Management LLC now owns 14,500 shares of the bank’s stock worth $629,000 after acquiring an additional 380 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Zions Bancorporation, National Association by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock valued at $74,784,000 after purchasing an additional 5,609 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Zions Bancorporation, National Association by 68.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock valued at $56,000 after purchasing an additional 526 shares in the last quarter. Atomi Financial Group Inc. purchased a new position in Zions Bancorporation, National Association in the second quarter valued at approximately $205,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Zions Bancorporation, National Association during the second quarter worth approximately $737,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the business’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 sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Eric Ellingsen sold 1,238 shares of the 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 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. Insiders have sold 18,881 shares of company stock valued at $1,108,184 over the last quarter. Company insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wolfe Research raised shares of Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. Wedbush raised their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Barclays boosted their target price on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the company an “underweight” rating in a report on Tuesday, October 22nd. Evercore ISI raised their price target on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. One 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $57.06.

Zions Bancorporation, National Association Stock Up 2.5 %

Shares of Zions Bancorporation, National Association stock opened at $53.67 on Friday. Zions Bancorporation, National Association has a one year low of $37.76 and a one year high of $63.22. The company has a market cap of $7.93 billion, a P/E ratio of 12.23, a PEG ratio of 5.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a fifty day moving average of $56.25 and a two-hundred day moving average of $49.66.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $781.63 million. During the same period in the prior year, the company posted $1.13 earnings per share. On average, analysts forecast 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. Investors of record on Thursday, November 14th were paid a $0.43 dividend. The ex-dividend date was Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.20%. Zions Bancorporation, National Association’s payout ratio is 39.18%.

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.