Clear Creek Financial Management LLC Raises Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Clear Creek Financial Management LLC increased its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 14,500 shares of the bank’s stock after acquiring an additional 380 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Zions Bancorporation, National Association were worth $629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZION. Charles Schwab Investment Management Inc. raised its stake in Zions Bancorporation, National Association by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,746,184 shares of the bank’s stock worth $164,345,000 after purchasing an additional 27,934 shares during the period. Comerica Bank raised its position in shares of Zions Bancorporation, National Association by 331.1% in the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after purchasing an additional 91,289 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Zions Bancorporation, National Association during the 1st quarter worth $1,959,000. Retirement Systems of Alabama raised its stake in shares of Zions Bancorporation, National Association by 469.8% in the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after purchasing an additional 153,387 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of Zions Bancorporation, National Association by 345.2% during the first quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock worth $3,831,000 after purchasing an additional 68,445 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 24,640 shares in the company, valued at approximately $1,275,859.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the transaction, the vice president now directly owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,073 shares of company stock worth $3,476,298. Corporate insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $49.91 on Monday. The stock has a market capitalization of $7.37 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 2.88 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $46.27 and a 200-day moving average of $43.22. Zions Bancorporation, National Association has a 1 year low of $28.90 and a 1 year high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations 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 revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 EPS. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.53 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Argus downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Robert W. Baird upped their target price on Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Stephens raised their target price on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Compass Point increased their target price on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley upped their target price on Zions Bancorporation, National Association from $42.00 to $54.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Zions Bancorporation, National Association has an average rating of “Hold” and an average price target of $48.61.

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.