King Luther Capital Management Corp Sells 13,930 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

King Luther Capital Management Corp reduced its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 25.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,085 shares of the bank’s stock after selling 13,930 shares during the period. King Luther Capital Management Corp’s holdings in Zions Bancorporation, National Association were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CVA Family Office LLC boosted its position in Zions Bancorporation, National Association by 1.0% in the first quarter. CVA Family Office LLC now owns 24,783 shares of the bank’s stock valued at $1,076,000 after buying an additional 245 shares in the last quarter. Strategic Advocates LLC lifted its stake in shares of Zions Bancorporation, National Association by 6.1% in the 2nd quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock valued at $223,000 after acquiring an additional 296 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Zions Bancorporation, National Association by 1.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock valued at $1,174,000 after acquiring an additional 327 shares in the last quarter. WBI Investments LLC grew its position in Zions Bancorporation, National Association by 3.4% during the 2nd quarter. WBI Investments LLC now owns 10,591 shares of the bank’s stock worth $459,000 after acquiring an additional 352 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Zions Bancorporation, National Association by 1.2% in the 2nd quarter. Hsbc Holdings PLC now owns 30,247 shares of the bank’s stock worth $1,312,000 after purchasing an additional 363 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ZION shares. Jefferies Financial Group cut their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Wednesday, September 11th. The Goldman Sachs Group boosted their target price on shares of Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Stephens upped their price target on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Wolfe Research upgraded shares of Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.72.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $47.99 on Friday. The firm has a market capitalization of $7.09 billion, a P/E ratio of 12.06, a P/E/G ratio of 2.83 and a beta of 1.09. Zions Bancorporation, National Association has a twelve month low of $28.90 and a twelve month high of $53.32. The company has a fifty day moving average of $48.00 and a 200-day moving average of $44.26. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly 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 firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 earnings per share. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.52 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 dividend on an annualized basis and a yield of 3.42%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Insider Activity

In related news, President Scott J. Mclean sold 60,000 shares of the stock in a transaction 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 directly owns 74,286 shares in the company, valued at approximately $3,850,243.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total value of $3,109,800.00. Following the transaction, the president now directly owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, July 26th. The shares were 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 of the company’s stock, valued at $1,275,859.20. The disclosure for this sale can be found here. Insiders 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.

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.