Sierra Summit Advisors LLC Has $1.18 Million Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Sierra Summit Advisors LLC increased its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 26.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,701 shares of the bank’s stock after purchasing an additional 4,511 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Zions Bancorporation, National Association were worth $1,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in shares of Zions Bancorporation, National Association by 73.2% during the fourth quarter. Wells Fargo & Company MN now owns 116,191 shares of the bank’s stock worth $6,303,000 after purchasing an additional 49,121 shares during the period. Prudential PLC acquired a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth about $392,000. Headlands Technologies LLC raised its position in shares of Zions Bancorporation, National Association by 13.5% in the 4th quarter. Headlands Technologies LLC now owns 30,287 shares of the bank’s stock valued at $1,643,000 after acquiring an additional 3,613 shares during the period. Franklin Resources Inc. boosted its stake in Zions Bancorporation, National Association by 22.3% during the 4th quarter. Franklin Resources Inc. now owns 248,903 shares of the bank’s stock worth $13,503,000 after acquiring an additional 45,336 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in Zions Bancorporation, National Association by 21.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 22,530 shares of the bank’s stock valued at $1,222,000 after purchasing an additional 3,973 shares during the period. 76.84% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction dated 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 of the company’s stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,029 shares of company stock valued at $1,855,321. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Trading Down 5.5 %

Shares of NASDAQ:ZION opened at $41.39 on Monday. The company’s 50-day moving average price is $52.52 and its two-hundred day moving average price is $53.78. Zions Bancorporation, National Association has a one year low of $39.05 and a one 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 stock has a market capitalization of $6.11 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $787.70 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. Zions Bancorporation, National Association’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

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

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Analysts Set New Price Targets

ZION has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their target price on Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Barclays increased their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a report on Wednesday, January 22nd. Stephens reiterated 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. Finally, UBS Group assumed coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price for the company. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Zions Bancorporation, National Association presently has an average rating of “Hold” and a consensus price target of $60.94.

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.