Voya Investment Management LLC Sells 16,692 Shares of Zions Bancorporation, N.A. $ZION

Voya Investment Management LLC lessened its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 131,285 shares of the bank’s stock after selling 16,692 shares during the quarter. Voya Investment Management LLC owned approximately 0.09% of Zions Bancorporation, N.A. worth $7,428,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ZION. AQR Capital Management LLC lifted its holdings in Zions Bancorporation, N.A. by 326.4% in the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank’s stock valued at $139,927,000 after buying an additional 2,194,514 shares during the period. Norges Bank bought a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at $80,883,000. Allianz Asset Management GmbH lifted its stake in shares of Zions Bancorporation, N.A. by 168.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,209,455 shares of the bank’s stock valued at $62,819,000 after purchasing an additional 758,855 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at $32,008,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter worth $31,224,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $53.11, for a total transaction of $130,544.38. Following the completion of the transaction, the executive vice president directly owned 27,133 shares of the company’s stock, valued at $1,441,033.63. This trade represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird upgraded Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Friday, October 17th. Jefferies Financial Group raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and upped their price target for the company from $55.00 to $60.00 in a research note on Wednesday, November 19th. Bank of America upgraded shares of Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and increased their price target for the company from $59.00 to $62.00 in a research report on Thursday, October 23rd. UBS Group decreased their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $61.35.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $59.26 on Wednesday. The company has a fifty day moving average price of $53.73 and a 200 day moving average price of $54.27. The firm has a market cap of $8.75 billion, a PE ratio of 10.62, a PEG ratio of 0.99 and a beta of 0.88. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $60.77.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. The company had revenue of $705.00 million for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.56% and a net margin of 17.22%. Research analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a $0.45 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.80 annualized dividend and a yield of 3.0%. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.