Principal Financial Group Inc. Has $143.79 Million Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Principal Financial Group Inc. boosted its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 890.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,310,115 shares of the bank’s stock after buying an additional 2,975,793 shares during the quarter. Principal Financial Group Inc.’s holdings in Zions Bancorporation, National Association were worth $143,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ZION. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth $31,000. Bellwether Advisors LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at approximately $34,000. Berman Capital Advisors LLC lifted its stake in Zions Bancorporation, National Association by 40.6% in the 3rd quarter. Berman Capital Advisors LLC now owns 1,288 shares of the bank’s stock valued at $37,000 after purchasing an additional 372 shares during the last quarter. Tompkins Financial Corp acquired a new stake in Zions Bancorporation, National Association in the fourth quarter valued at approximately $40,000. Finally, CI Investments Inc. bought a new stake in shares of Zions Bancorporation, National Association during the third quarter worth $45,000. Institutional investors and hedge funds own 86.34% of the company’s stock.

In related news, VP A Scott Anderson sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $47.31, for a total transaction of $94,620.00. Following the completion of the transaction, the vice president now owns 25,924 shares in the company, valued at approximately $1,226,464.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark Richard Young sold 2,615 shares of Zions Bancorporation, National Association stock in a transaction on Friday, February 19th. The stock was sold at an average price of $51.39, for a total transaction of $134,384.85. Following the completion of the transaction, the vice president now directly owns 15,296 shares in the company, valued at $786,061.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 161,091 shares of company stock worth $7,774,818. Company insiders own 1.81% of the company’s stock.

ZION opened at $53.36 on Tuesday. The stock has a 50-day moving average of $48.25 and a 200 day moving average of $38.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. Zions Bancorporation, National Association has a 12 month low of $23.58 and a 12 month high of $54.29. The firm has a market cap of $8.75 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.91 and a beta of 1.63.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, January 18th. The bank reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.64. Zions Bancorporation, National Association had a net margin of 14.58% and a return on equity of 6.79%. During the same quarter in the previous year, the business earned $0.97 EPS. On average, research analysts forecast that Zions Bancorporation, National Association will post 2.41 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 25th. Shareholders of record on Thursday, February 18th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, February 17th. This represents a $1.36 annualized dividend and a dividend yield of 2.55%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 31.41%.

A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Zions Bancorporation, National Association from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, January 28th. Piper Sandler boosted their price objective on Zions Bancorporation, National Association from $38.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, November 20th. Barclays downgraded shares of Zions Bancorporation, National Association from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research report on Monday, January 4th. B. Riley reissued a “buy” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Zions Bancorporation, National Association in a report on Wednesday, January 20th. Finally, Raymond James raised their price target on Zions Bancorporation, National Association from $45.00 to $61.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $73.58.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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