Sigma Planning Corp Lowers Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Sigma Planning Corp decreased its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 39.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,189 shares of the bank’s stock after selling 2,738 shares during the period. Sigma Planning Corp’s holdings in Zions Bancorporation, National Association were worth $227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in shares of Zions Bancorporation, National Association by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank’s stock valued at $245,000 after acquiring an additional 224 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 1.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank’s stock valued at $937,000 after acquiring an additional 249 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Zions Bancorporation, National Association by 13.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,802 shares of the bank’s stock valued at $152,000 after acquiring an additional 332 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Zions Bancorporation, National Association by 7.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,252 shares of the bank’s stock valued at $288,000 after acquiring an additional 343 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Zions Bancorporation, National Association by 0.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock valued at $1,947,000 after acquiring an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 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 Securities & Exchange Commission, which can be accessed 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 transaction 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 approximately $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,713 shares of company stock valued at $1,839,686 over the last 90 days. Insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the topic of several analyst reports. Stephens lifted their target price on shares of Zions Bancorporation, National Association from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on shares of 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. Barclays raised their price objective on shares of 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. Finally, Royal Bank of Canada raised their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.71.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $54.04 on Friday. The firm has a 50 day simple moving average of $55.90 and a 200-day simple moving average of $53.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $7.98 billion, a PE ratio of 10.92, a P/E/G ratio of 1.61 and a beta of 1.11. Zions Bancorporation, National Association has a 1-year low of $38.01 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. On average, equities 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 initiated a stock repurchase program on Monday, February 24th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

Zions Bancorporation, National Association 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.