Clear Creek Financial Management LLC Reduces Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Clear Creek Financial Management LLC lessened its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 36.6% in the fourth quarter, HoldingsChannel reports. The firm owned 8,143 shares of the bank’s stock after selling 4,708 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Zions Bancorporation, National Association were worth $442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZION. State Street Corp grew its holdings in Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after buying an additional 896,889 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Zions Bancorporation, National Association by 165.0% during the 3rd quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after purchasing an additional 563,889 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after purchasing an additional 538,049 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter worth about $24,647,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Zions Bancorporation, National Association by 124.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 290,165 shares of the bank’s stock worth $13,702,000 after purchasing an additional 161,118 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Down 0.7 %

ZION opened at $57.86 on Monday. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22. The business has a 50-day moving average of $57.01 and a 200-day moving average of $52.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $8.55 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.92 and a beta of 1.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly 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. 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 during the quarter, compared to the consensus estimate of $787.70 million. During the same period last year, the business earned $0.78 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. Equities research analysts forecast that Zions Bancorporation, National Association will post 5.23 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.97%. Zions Bancorporation, National Association’s dividend payout ratio is 34.75%.

Insider Activity

In other news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the sale, the executive vice president now owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 3,605 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $209,306.30. Following the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,434,894.84. This trade represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,496 shares of company stock valued at $873,762. Insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price 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. Robert W. Baird boosted their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Wedbush boosted their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price target on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, Stephens upped their price target on Zions Bancorporation, National Association from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.71.

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.