Convergence Investment Partners LLC Purchases Shares of 31,527 Zions Bancorporation, National Association (NASDAQ:ZION)

Convergence Investment Partners LLC acquired a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,527 shares of the bank’s stock, valued at approximately $1,710,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its stake in shares of Zions Bancorporation, National Association by 13.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,802 shares of the bank’s stock worth $152,000 after acquiring an additional 332 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Zions Bancorporation, National Association by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank’s stock valued at $245,000 after purchasing an additional 224 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $2,538,000. Savant Capital LLC grew its holdings in Zions Bancorporation, National Association by 12.0% in the 4th quarter. Savant Capital LLC now owns 7,302 shares of the bank’s stock worth $396,000 after buying an additional 780 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Zions Bancorporation, National Association by 0.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank’s stock worth $146,396,000 after buying an additional 14,070 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Up 1.9 %

ZION stock opened at $56.78 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 52-week low of $38.01 and a 52-week high of $63.22. The company has a 50-day moving average of $56.22 and a two-hundred day moving average of $53.01. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating 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 analysts’ expectations of $787.70 million. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts anticipate that Zions Bancorporation, National Association will post 5.38 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is 34.75%.

Insiders Place Their Bets

In related news, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares of the company’s stock, valued at $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 19,693 shares of company stock worth $1,148,477 over the last quarter. Company insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

ZION has been the subject of a number of research analyst reports. Compass Point upped their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays increased their price objective on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday, January 22nd. Wedbush increased their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Stephens increased their target price on Zions Bancorporation, National Association from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.71.

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.