Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by LSV Asset Management

LSV Asset Management lessened its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,654,177 shares of the bank’s stock after selling 294,200 shares during the period. LSV Asset Management’s holdings in Zions Bancorporation, National Association were worth $198,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZION. EverSource Wealth Advisors LLC increased its holdings in shares of Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after purchasing an additional 183 shares during the period. SRS Capital Advisors Inc. boosted its position in Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after purchasing an additional 493 shares during the period. Millstone Evans Group LLC bought a new stake in Zions Bancorporation, National Association during the fourth quarter worth approximately $62,000. Whipplewood Advisors LLC bought a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at approximately $115,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Zions Bancorporation, National Association by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock valued at $122,000 after acquiring an additional 368 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Trading Up 8.4 %

Shares of ZION stock opened at $45.73 on Thursday. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 1.61 and a beta of 0.92. The stock has a 50-day moving average of $51.10 and a 200-day moving average of $53.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, beating 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 company had revenue of $820.00 million for the quarter, compared to analyst estimates of $787.70 million. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has initiated a share buyback 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 3.76%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction 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 trade represents a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the 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 sale, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,029 shares of company stock worth $1,855,321. Corporate insiders own 2.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ZION. Keefe, Bruyette & Woods upped their target price on 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. Wells Fargo & Company lowered their target price on Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. DA Davidson raised their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Morgan Stanley reduced their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, Barclays raised their target price 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. One 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 MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average price target of $60.94.

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.