Arizona State Retirement System Has $2.32 Million Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Arizona State Retirement System lifted its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,839 shares of the bank’s stock after purchasing an additional 322 shares during the quarter. Arizona State Retirement System’s holdings in Zions Bancorporation, National Association were worth $2,324,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. grew its holdings in shares of Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after purchasing an additional 493 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth approximately $115,000. Smartleaf Asset Management LLC grew its holdings in shares of Zions Bancorporation, National Association by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock worth $122,000 after purchasing an additional 368 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Zions Bancorporation, National Association by 209.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock valued at $117,000 after buying an additional 1,671 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Zions Bancorporation, National Association in the 3rd quarter valued at $119,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the company’s 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 completion of the sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Trading Down 5.8 %

ZION stock opened at $47.22 on Tuesday. The company has a market cap of $6.98 billion, a P/E ratio of 9.54, a PEG ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a twelve month low of $39.05 and a twelve month high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $55.39 and a 200-day moving average of $53.63.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its 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. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its board has approved a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.64%. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

Analyst Upgrades and Downgrades

ZION has been the topic of several recent analyst reports. Wells Fargo & Company boosted 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 note on Friday, November 15th. Barclays boosted their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada boosted their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price target on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average price target of $60.71.

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.