Inceptionr LLC Invests $544,000 in Zions Bancorporation, National Association (NASDAQ:ZION)

Inceptionr LLC acquired a new position in Zions Bancorporation, National Association (NASDAQ:ZION) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,028 shares of the bank’s stock, valued at approximately $544,000.

A number of other institutional investors have also recently made changes to their positions in ZION. State Street Corp boosted its position in shares of Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after acquiring an additional 538,049 shares during the period. Wellington Management Group LLP acquired a new stake in Zions Bancorporation, National Association during the 3rd quarter worth about $24,647,000. Charles Schwab Investment Management Inc. lifted its position in Zions Bancorporation, National Association by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock worth $264,902,000 after acquiring an additional 194,995 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Zions Bancorporation, National Association during the 4th quarter worth about $7,739,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock opened at $50.15 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a twelve month low of $39.05 and a twelve month high of $63.22. The business has a 50-day moving average price of $55.53 and a 200 day moving average price of $53.58. The firm has a market cap of $7.42 billion, a PE ratio of 10.13, a P/E/G ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its 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 business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. Sell-side analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.43%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Zions Bancorporation, National Association announced that its board has initiated a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on ZION shares. Royal Bank of Canada lifted their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 22nd. Compass Point lifted their price target on 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. Wells Fargo & Company lifted their price target on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Stephens reaffirmed an “equal weight” rating and set a $64.00 price target on shares of Zions Bancorporation, National Association in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price target on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus price target of $60.71.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,713 shares of company stock valued at $1,839,686 over the last quarter. 2.22% of the stock is currently owned by insiders.

Zions Bancorporation, National Association Company 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.