PNC Financial Services Group Inc. Has $1.83 Million Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

PNC Financial Services Group Inc. reduced its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,745 shares of the bank’s stock after selling 7,849 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Zions Bancorporation, National Association were worth $1,831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Zions Bancorporation, National Association by 22.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,016,407 shares of the bank’s stock worth $220,077,000 after acquiring an additional 927,899 shares in the last quarter. Invesco Ltd. lifted its holdings in Zions Bancorporation, National Association by 1.4% during the 3rd quarter. Invesco Ltd. now owns 3,973,319 shares of the bank’s stock worth $138,629,000 after buying an additional 53,859 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Zions Bancorporation, National Association by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,746,184 shares of the bank’s stock worth $164,345,000 after buying an additional 27,934 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Zions Bancorporation, National Association by 119.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock worth $101,396,000 after buying an additional 1,259,571 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its holdings in Zions Bancorporation, National Association by 4.0% during the 4th quarter. Fiduciary Management Inc. WI now owns 2,247,805 shares of the bank’s stock worth $98,611,000 after buying an additional 86,165 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the completion of the transaction, the chief executive officer now directly owns 22,181 shares in the company, valued at approximately $968,866.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Rebecca K. Robinson sold 5,291 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the transaction, the executive vice president now directly owns 22,238 shares in the company, valued at approximately $970,911.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now owns 22,181 shares of the company’s stock, valued at $968,866.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,296 shares of company stock worth $319,192. Corporate insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com downgraded Zions Bancorporation, National Association from a “hold” rating to a “sell” rating in a report on Saturday, June 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Zions Bancorporation, National Association in a report on Wednesday, April 10th. They set a “hold” rating and a $47.00 price objective on the stock. UBS Group reduced their price objective on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Jefferies Financial Group cut their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Finally, Evercore ISI increased their price target on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus target price of $43.82.

Zions Bancorporation, National Association Price Performance

ZION opened at $41.25 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.01. Zions Bancorporation, National Association has a 12 month low of $26.35 and a 12 month high of $46.15. The company has a fifty day simple moving average of $42.20 and a 200 day simple moving average of $41.78. The stock has a market cap of $6.09 billion, a P/E ratio of 10.36, a P/E/G ratio of 4.76 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Friday, April 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $747.21 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. During the same quarter last year, the company posted $1.33 EPS. On average, research analysts expect that Zions Bancorporation, National Association will post 4.37 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Wednesday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

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.