Sei Investments Co. Raises Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Sei Investments Co. grew its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 39.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,442 shares of the bank’s stock after purchasing an additional 27,702 shares during the period. Sei Investments Co. owned approximately 0.07% of Zions Bancorporation, National Association worth $5,286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ZION. EverSource Wealth Advisors LLC lifted its position in Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after buying an additional 183 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Zions Bancorporation, National Association by 5.2% in the 4th 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 during the period. Contravisory Investment Management Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 1.5% in the 4th quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank’s stock worth $937,000 after acquiring an additional 249 shares during the last quarter. Jackson Creek Investment Advisors LLC boosted its position in shares of Zions Bancorporation, National Association by 3.3% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank’s stock worth $490,000 after purchasing an additional 285 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Zions Bancorporation, National Association by 0.8% during the 4th quarter. Arizona State Retirement System now owns 42,839 shares of the bank’s stock worth $2,324,000 after purchasing an additional 322 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the transaction, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % 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 worth $1,839,686 in the last 90 days. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $49.48 on Wednesday. The company has a fifty day moving average of $53.30 and a two-hundred day moving average of $53.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. The company has a market capitalization of $7.30 billion, a PE ratio of 10.00, a P/E/G 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787.70 million. During the same quarter last year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.48%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

Wall Street Analyst Weigh In

A number of research firms have commented on ZION. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, January 7th. Barclays increased their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. Compass Point increased their price target on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.94.

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.