Zurcher Kantonalbank Zurich Cantonalbank Buys 4,007 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 12.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,062 shares of the bank’s stock after purchasing an additional 4,007 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zions Bancorporation, National Association were worth $2,011,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ZION. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $279,000. KBC Group NV grew its position in Zions Bancorporation, National Association by 25.6% in the 3rd quarter. KBC Group NV now owns 4,455 shares of the bank’s stock valued at $210,000 after acquiring an additional 909 shares during the last quarter. CIBC Asset Management Inc bought a new position in Zions Bancorporation, National Association in the 3rd quarter valued at $202,000. Cornercap Investment Counsel Inc. bought a new position in Zions Bancorporation, National Association in the 3rd quarter valued at $510,000. Finally, Natixis Advisors LLC grew its position in Zions Bancorporation, National Association by 21.1% in the 3rd quarter. Natixis Advisors LLC now owns 427,047 shares of the bank’s stock valued at $20,166,000 after acquiring an additional 74,344 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Trading Up 3.5 %

Zions Bancorporation, National Association stock opened at $48.63 on Monday. The stock has a 50-day moving average of $54.86 and a two-hundred day moving average of $53.58. 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 one year low of $39.05 and a one year high of $63.22. The stock has a market cap of $7.19 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, research analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Stephens reaffirmed an “equal weight” rating and issued a $64.00 price objective on shares of Zions Bancorporation, National Association in a research report on Wednesday, March 5th. Morgan Stanley cut their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday. UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 target price for the company. Finally, Royal Bank of Canada upped their target price on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $61.18.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the sale, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is owned by 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.