Zions Bancorporation, National Association (NASDAQ:ZION) Position Reduced by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 20.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,943,286 shares of the bank’s stock after selling 498,667 shares during the period. Arrowstreet Capital Limited Partnership owned 1.32% of Zions Bancorporation, National Association worth $105,423,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ZION. EverSource Wealth Advisors LLC raised its stake in Zions Bancorporation, National Association by 51.1% during 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 in the last quarter. SRS Capital Advisors Inc. raised its position in shares of Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after acquiring an additional 493 shares in the last quarter. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association during the fourth quarter worth $62,000. Whipplewood Advisors LLC acquired a new position in Zions Bancorporation, National Association in the fourth quarter worth $115,000. Finally, Smartleaf Asset Management LLC increased its stake in 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 valued at $122,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insiders Place Their Bets

In related news, 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 in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association 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 transaction, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Stock Down 1.6 %

ZION opened at $49.47 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $7.30 billion, a PE ratio of 9.99, a P/E/G ratio of 1.61 and a beta of 1.10. The stock’s fifty day moving average is $53.66 and its 200-day moving average is $53.77. Zions Bancorporation, National Association has a one year low of $39.05 and a one year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. On average, equities analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

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

Wall Street Analysts Forecast Growth

ZION has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Compass Point boosted their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. DA Davidson boosted their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Barclays increased their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus price target of $60.94.

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.