Zions Bancorporation, National Association (NASDAQ:ZION) Holdings Lowered by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC trimmed its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 65,175 shares of the bank’s stock after selling 1,573 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Zions Bancorporation, National Association were worth $3,536,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Swiss National Bank lifted its stake in Zions Bancorporation, National Association by 0.8% in the 4th quarter. Swiss National Bank now owns 290,500 shares of the bank’s stock worth $15,760,000 after acquiring an additional 2,300 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 worth $29,000 after acquiring an additional 183 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Zions Bancorporation, National Association by 143.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 67,118 shares of the bank’s stock worth $3,641,000 after acquiring an additional 39,549 shares in the last quarter. HighTower Advisors LLC lifted its stake in Zions Bancorporation, National Association by 2.8% in the 4th quarter. HighTower Advisors LLC now owns 67,308 shares of the bank’s stock worth $3,651,000 after acquiring an additional 1,861 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Zions Bancorporation, National Association in the 4th quarter worth about $150,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group assumed coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price objective for the company. Royal Bank of Canada raised their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 22nd. Barclays raised their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price target on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus price target of $60.71.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION opened at $47.94 on Thursday. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 1.61 and a beta of 1.10. The business’s 50-day simple moving average is $55.13 and its 200-day simple moving average is $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 has a 52 week low of $39.05 and a 52 week high of $63.22.

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

Zions Bancorporation, National Association Dividend Announcement

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

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

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares in the company, 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 document filed 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 shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the sale, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,713 shares of company stock valued at $1,839,686 in the last three months. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Company 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.