Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Versor Investments LP

Versor Investments LP cut its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 48.8% in the 4th quarter, Holdings Channel reports. The fund owned 8,927 shares of the bank’s stock after selling 8,500 shares during the period. Versor Investments LP’s holdings in Zions Bancorporation, National Association were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ZION. State Street Corp boosted its holdings in Zions Bancorporation, National Association by 14.6% in 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. Vaughan Nelson Investment Management L.P. raised its position in shares of Zions Bancorporation, National Association by 25.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after purchasing an additional 538,049 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $24,647,000. Charles Schwab Investment Management Inc. grew its position in shares of Zions Bancorporation, National Association by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock worth $221,367,000 after buying an additional 140,084 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Zions Bancorporation, National Association in the third quarter worth $4,189,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Trading Up 0.7 %

Zions Bancorporation, National Association stock opened at $54.04 on Friday. Zions Bancorporation, National Association has a 52-week low of $38.01 and a 52-week high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.61 and a beta of 1.11. The firm has a 50-day moving average price of $55.90 and a two-hundred day moving average price of $53.41.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. Sell-side 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 firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.18%. Zions Bancorporation, National Association’s payout ratio is 34.75%.

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

Analyst Ratings Changes

Several research analysts have weighed in on ZION shares. Barclays raised their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Stephens increased their target price on Zions Bancorporation, National Association from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company lifted their target price on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Compass Point upped their price target 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. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.71.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of the company’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 value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the transaction, the executive vice president now owns 29,313 shares of the company’s stock, 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 quarter, insiders sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is currently owned by corporate insiders.

About Zions Bancorporation, National Association

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.