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

Zions Bancorporation N.A. decreased its holdings in 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 institutional investor owned 8,144 shares of the bank’s stock after selling 7,532 shares during the period. Zions Bancorporation N.A.’s holdings in Zions Bancorporation, National Association were worth $442,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Zions Bancorporation, National Association in the 3rd quarter worth about $583,000. Fisher Asset Management LLC bought a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth approximately $389,000. Strategic Financial Concepts LLC purchased a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $2,538,000. 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 period. Finally, SG Americas Securities LLC lifted its position in Zions Bancorporation, National Association by 244.8% during the fourth quarter. SG Americas Securities LLC now owns 28,405 shares of the bank’s stock valued at $1,541,000 after purchasing an additional 20,167 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is currently owned by insiders.

Zions Bancorporation, National Association Trading Down 0.7 %

ZION stock opened at $50.66 on Thursday. 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 1-year low of $39.05 and a 1-year high of $63.22. The business has a 50 day simple moving average of $53.97 and a two-hundred day simple moving average of $53.65. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its 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 firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. Research 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 of Directors has authorized a stock buyback program on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZION shares. Keefe, Bruyette & Woods boosted their target price on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd. Compass Point upped their price objective 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. Royal Bank of Canada raised their target price on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 22nd. DA Davidson upped their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.18.

Zions Bancorporation, National Association Company 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.