Zions Bancorporation, National Association (NASDAQ:ZION) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,037,323 shares of the bank’s stock after acquiring an additional 285,588 shares during the period. Vanguard Group Inc. owned 12.89% of Zions Bancorporation, National Association worth $1,032,775,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZION. Cerity Partners LLC raised its stake in shares of Zions Bancorporation, National Association by 27.7% during the third quarter. Cerity Partners LLC now owns 30,787 shares of the bank’s stock worth $1,454,000 after purchasing an additional 6,683 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Zions Bancorporation, National Association during the 3rd quarter worth $477,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter worth $658,000. Bank of Montreal Can boosted its holdings in shares of Zions Bancorporation, National Association by 35.6% in the third quarter. Bank of Montreal Can now owns 58,427 shares of the bank’s stock valued at $2,715,000 after acquiring an additional 15,354 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of Zions Bancorporation, National Association by 5.6% during the third quarter. D.A. Davidson & CO. now owns 18,179 shares of the bank’s stock worth $858,000 after acquiring an additional 965 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,713 shares of company stock valued at $1,839,686 in the last ninety days. Insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

ZION has been the subject of a number of recent analyst reports. Stephens restated an “equal weight” rating and issued a $64.00 price objective on shares of Zions Bancorporation, National Association in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, January 7th. UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.94.

Zions Bancorporation, National Association Trading Down 1.6 %

Shares of Zions Bancorporation, National Association stock opened at $49.47 on Friday. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. 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 business has a 50 day moving average price of $53.66 and a 200 day moving average price of $53.65. The company has a market capitalization of $7.30 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results 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 return on equity of 13.65% and a net margin of 15.70%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

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

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.48%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

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.