Mitsubishi UFJ Trust & Banking Corp Sells 3,601 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 10.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,654 shares of the bank’s stock after selling 3,601 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Zions Bancorporation, National Association were worth $1,609,000 at the end of the most recent quarter.

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

Zions Bancorporation, National Association Stock Down 0.8 %

ZION stock opened at $49.48 on Wednesday. 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 52 week low of $39.05 and a 52 week high of $63.22. The stock has a market capitalization of $7.30 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The firm has a 50 day moving average of $53.30 and a 200 day moving average of $53.82.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share 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 for the quarter, compared to analyst estimates of $787.70 million. During the same period in the prior year, the company earned $0.78 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has approved a share buyback plan on Monday, February 24th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid 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 3.48%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 directly owns 45,847 shares in the company, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company’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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on ZION shares. DA Davidson boosted their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group started coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price for the company. Barclays boosted their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.