Zions Bancorporation N.A. Sells 7,532 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Zions Bancorporation N.A. lessened its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 48.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,144 shares of the bank’s stock after selling 7,532 shares during the quarter. Zions Bancorporation N.A.’s holdings in Zions Bancorporation, National Association were worth $442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ZION. State Street Corp lifted its position in Zions Bancorporation, National Association by 14.6% during the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after purchasing an additional 896,889 shares during the last quarter. Boston Partners bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $33,961,000. Wellington Management Group LLP purchased a new position in Zions Bancorporation, National Association in the third quarter worth $24,647,000. Vanguard Group Inc. grew its position in Zions Bancorporation, National Association by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock worth $1,032,775,000 after acquiring an additional 285,588 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Zions Bancorporation, National Association by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after acquiring an additional 194,995 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. Morgan Stanley cut their target price 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. DA Davidson lifted their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, January 7th. Finally, UBS Group started coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 target price on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.18.

Zions Bancorporation, National Association Stock Down 0.7 %

Shares of NASDAQ ZION opened at $50.66 on Thursday. The firm has a fifty day simple moving average of $53.97 and a two-hundred day simple moving average of $53.65. The firm has a market capitalization of $7.48 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22.

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

Zions Bancorporation, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.40%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a share buyback program on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is currently owned by company 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.