11,993 Shares in Zions Bancorporation, National Association (NASDAQ:ZION) Purchased by Michels Family Financial LLC

Michels Family Financial LLC purchased a new position in Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,993 shares of the bank’s stock, valued at approximately $651,000.

Other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at approximately $389,000. Strategic Financial Concepts LLC bought a new stake in Zions Bancorporation, National Association in the fourth quarter valued at $2,538,000. Polymer Capital Management US LLC bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth $229,000. SG Americas Securities LLC grew its holdings in shares of 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 worth $1,541,000 after purchasing an additional 20,167 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at $4,237,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ZION shares. Wells Fargo & Company cut their target price on Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group started coverage on Zions Bancorporation, National Association in a report on Wednesday. They set an “underperform” rating and a $40.00 price objective for the company. Morgan Stanley decreased their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Stephens cut their price objective on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods cut their price objective on Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.94.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $46.58 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day moving average price of $46.42 and a two-hundred day moving average price of $52.72. The firm has a market capitalization of $6.87 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. During the same period in the prior year, the company posted $0.96 earnings per share. Equities analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.69%. Zions Bancorporation, National Association’s payout ratio is 33.59%.

Zions Bancorporation, National Association declared that its board has approved a stock buyback program on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.