Brandywine Global Investment Management LLC Takes $2.02 Million Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Brandywine Global Investment Management LLC acquired a new position in Zions Bancorporation, National Association (NASDAQ:ZION) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,246 shares of the bank’s stock, valued at approximately $2,021,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after purchasing an additional 183 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after buying an additional 493 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Zions Bancorporation, National Association in the 4th quarter valued at approximately $62,000. Whipplewood Advisors LLC bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at $115,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Zions Bancorporation, National Association by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock worth $122,000 after acquiring an additional 368 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction 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 directly owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction 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. This trade represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,029 shares of company stock worth $1,855,321. 2.22% of the stock is currently owned by insiders.

Zions Bancorporation, National Association Trading Up 1.9 %

Shares of ZION opened at $50.44 on Thursday. Zions Bancorporation, National Association has a fifty-two week low of $39.05 and a fifty-two week high of $63.22. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.61 and a beta of 1.10. The firm has a 50 day moving average price of $53.15 and a 200-day moving average price of $53.80. 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 (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. During the same period in the prior year, the business posted $0.78 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its board has approved a share repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business 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. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.41%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 34.75%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ZION. Stephens reiterated an “equal weight” rating and set a $64.00 price objective on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. DA Davidson upped their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company cut 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 research report on Friday, March 28th. Royal Bank of Canada boosted 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. Finally, Compass Point increased their target price on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, National Association has an average 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.