Seven Eight Capital LP Decreases Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Seven Eight Capital LP reduced its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 17.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,460 shares of the bank’s stock after selling 10,800 shares during the quarter. Seven Eight Capital LP’s holdings in Zions Bancorporation, National Association were worth $2,145,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ZION. Fidelis Capital Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association during the 1st quarter worth $27,000. Jones Financial Companies Lllp purchased a new stake in Zions Bancorporation, National Association in the fourth quarter valued at about $29,000. ORG Partners LLC purchased a new stake in Zions Bancorporation, National Association in the second quarter valued at about $33,000. International Assets Investment Management LLC purchased a new stake in Zions Bancorporation, National Association in the second quarter valued at about $34,000. Finally, Rothschild Investment LLC purchased a new stake in Zions Bancorporation, National Association in the second quarter valued at about $39,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $47.01 on Thursday. The company has a market cap of $6.94 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09. The stock’s 50 day simple moving average is $47.93 and its 200-day simple moving average is $44.13. Zions Bancorporation, National Association has a 1-year low of $28.90 and a 1-year high of $53.32. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.18. The business had revenue of $776.00 million for the quarter, compared to the consensus estimate of $761.61 million. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. As a group, equities research analysts anticipate that Zions Bancorporation, National Association will post 4.52 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.41 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.49%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Analysts Set New Price Targets

ZION has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 21st. Jefferies Financial Group cut their price objective on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Wedbush increased their price objective on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.83.

Insider Activity

In other news, President Scott J. Mclean sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the transaction, the president now owns 74,286 shares in the company, valued at $3,850,243.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $51.78, for a total transaction of $99,262.26. Following the transaction, the executive vice president now owns 24,640 shares in the company, valued at $1,275,859.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Scott J. Mclean sold 60,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the transaction, the president now owns 74,286 shares in the company, valued at approximately $3,850,243.38. The disclosure for this sale can be found here. Insiders have sold a total of 67,073 shares of company stock worth $3,476,298 over the last quarter. 2.22% of the stock is currently owned by corporate insiders.

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.