Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 13.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,547 shares of the bank’s stock after selling 21,314 shares during the period. Corient Private Wealth LLC owned 0.09% of Zions Bancorporation, National Association worth $7,462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZION. Virtu Financial LLC acquired a new position in Zions Bancorporation, National Association during the 3rd quarter valued at about $583,000. Fisher Asset Management LLC purchased a new position in shares of Zions Bancorporation, National Association in the 4th quarter valued at approximately $389,000. Strategic Financial Concepts LLC acquired a new stake in Zions Bancorporation, National Association in the 4th quarter worth approximately $2,538,000. State Street Corp grew its position in Zions Bancorporation, National Association by 14.6% during the 3rd 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, SG Americas Securities LLC increased its stake in Zions Bancorporation, National Association by 244.8% during the 4th quarter. SG Americas Securities LLC now owns 28,405 shares of the bank’s stock valued at $1,541,000 after purchasing an additional 20,167 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ZION. Stephens reissued an “equal weight” rating and set a $64.00 price objective on shares of Zions Bancorporation, National Association in a report on Wednesday, March 5th. Keefe, Bruyette & Woods boosted their price target on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd. Morgan Stanley reduced their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Compass Point upped their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada raised their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average target price of $61.18.

Insider Buying and Selling

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the transaction, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,713 shares of company stock worth $1,839,686. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Trading Up 0.6 %

Shares of ZION stock opened at $49.64 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.61 and a beta of 1.10. The stock has a 50 day simple moving average of $54.38 and a 200-day simple moving average of $53.51. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. On average, equities research analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

Zions Bancorporation, National Association declared that its board has authorized a share buyback program on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.