ProShare Advisors LLC Sells 22,856 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

ProShare Advisors LLC trimmed its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 76.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,963 shares of the bank’s stock after selling 22,856 shares during the period. ProShare Advisors LLC’s holdings in Zions Bancorporation, National Association were worth $302,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new position in Zions Bancorporation, National Association during the first quarter valued at approximately $27,000. Jones Financial Companies Lllp acquired a new position in Zions Bancorporation, National Association in the 4th quarter valued at $29,000. ORG Partners LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter worth $33,000. International Assets Investment Management LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter worth $34,000. Finally, Rothschild Investment LLC acquired a new position in Zions Bancorporation, National Association during the 2nd quarter worth $39,000. 76.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZION. Jefferies Financial Group lowered 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 report on Wednesday, September 11th. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Morgan Stanley raised Zions Bancorporation, National Association from an “underweight” rating to an “equal weight” rating and set a $54.00 price objective for the company in a research report on Monday. Robert W. Baird boosted their target price on shares of 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. Finally, Stephens upped their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $49.17.

Zions Bancorporation, National Association Stock Up 1.1 %

Shares of NASDAQ:ZION opened at $46.19 on Friday. The company has a market capitalization of $6.82 billion, a PE ratio of 11.61, a P/E/G ratio of 2.81 and a beta of 1.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. The company’s fifty day moving average is $47.42 and its 200-day moving average is $44.57. Zions Bancorporation, National Association has a 52 week low of $28.90 and a 52 week high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.18. The company had revenue of $776.00 million during the quarter, compared to analyst estimates of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $1.11 earnings per share. Equities research analysts predict that Zions Bancorporation, National Association will post 4.51 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.64 annualized dividend and a yield of 3.55%. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Insider Activity

In related news, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, the vice president now owns 17,857 shares in the company, valued at $925,528.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Terry Alan Shirey sold 1,917 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now owns 24,640 shares in the company, valued at $1,275,859.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,073 shares of company stock valued at $3,476,298. 2.22% of the stock is currently 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.