Geode Capital Management LLC Sells 2,073 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Geode Capital Management LLC lessened its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,635,844 shares of the bank’s stock after selling 2,073 shares during the quarter. Geode Capital Management LLC’s holdings in Zions Bancorporation, National Association were worth $143,038,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in 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 acquiring an additional 183 shares during the period. SRS Capital Advisors Inc. increased its holdings in Zions Bancorporation, National Association by 120.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after purchasing an additional 493 shares during the period. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association during the 4th quarter worth $62,000. Whipplewood Advisors LLC acquired a new position in Zions Bancorporation, National Association during the 4th quarter worth about $115,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Zions Bancorporation, National Association by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock valued at $122,000 after buying an additional 368 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZION has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price objective on Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. UBS Group began coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target on the stock. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, January 7th. DA Davidson boosted their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased their price target 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. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.94.

Zions Bancorporation, National Association Stock Up 3.0 %

Zions Bancorporation, National Association stock opened at $42.65 on Tuesday. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The firm’s fifty day moving average price is $52.22 and its two-hundred day moving average price is $53.74. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22. 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 (NASDAQ:ZION) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.08. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. On average, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 4.03%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share 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 purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the completion of the sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 owns 45,847 shares in the company, valued at $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,029 shares of company stock worth $1,855,321. Corporate insiders own 2.22% of the company’s stock.

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.