Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC trimmed its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,175 shares of the bank’s stock after selling 1,573 shares during the period. HBK Sorce Advisory LLC’s holdings in Zions Bancorporation, National Association were worth $3,536,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of 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 valued at $332,515,000 after acquiring an additional 896,889 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position 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 valued at $126,762,000 after acquiring an additional 538,049 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $24,647,000. Charles Schwab Investment Management Inc. raised its position in shares of Zions Bancorporation, National Association by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after acquiring an additional 194,995 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at approximately $7,739,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s 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 transaction, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,713 shares of company stock valued at $1,839,686 over the last 90 days. 2.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. DA Davidson upped their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their price target on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Barclays upped their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group assumed coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective for the company. One equities 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.71.

Zions Bancorporation, National Association Trading Up 1.3 %

NASDAQ:ZION opened at $47.94 on Thursday. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 1.61 and a beta of 1.10. The business has a fifty day moving average of $55.13 and a 200-day moving average of $53.57. 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 (NASDAQ:ZION) last announced its 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. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.59%. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

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.