Teacher Retirement System of Texas Acquires 12,481 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Teacher Retirement System of Texas lifted its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 38.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,326 shares of the bank’s stock after purchasing an additional 12,481 shares during the period. Teacher Retirement System of Texas’ holdings in Zions Bancorporation, National Association were worth $2,459,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after acquiring an additional 896,889 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Zions Bancorporation, National Association by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after purchasing an additional 194,995 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Zions Bancorporation, National Association by 0.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank’s stock valued at $146,396,000 after purchasing an additional 14,070 shares in the last quarter. Geode Capital Management LLC raised its position in Zions Bancorporation, National Association by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock worth $124,592,000 after purchasing an additional 30,030 shares during the last quarter. Finally, Boston Partners acquired a new position in Zions Bancorporation, National Association during the 4th quarter worth $33,961,000. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock opened at $50.66 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a 52 week low of $39.05 and a 52 week high of $63.22. The company’s 50 day moving average price is $53.97 and its two-hundred day moving average price is $53.65. The company has a market capitalization of $7.48 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The business had revenue of $820.00 million for 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%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. On average, analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association declared that its board has authorized a stock repurchase plan on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.40%. Zions Bancorporation, National Association’s payout ratio is presently 34.75%.

Insider Activity at Zions Bancorporation, National Association

In related news, 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 sale, the executive vice president now owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Compass Point boosted their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.18.

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.