Martingale Asset Management L P Increases Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Martingale Asset Management L P increased its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 151.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,157 shares of the bank’s stock after acquiring an additional 47,015 shares during the quarter. Martingale Asset Management L P owned approximately 0.05% of Zions Bancorporation, National Association worth $4,240,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings 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 worth $29,000 after acquiring an additional 183 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after purchasing an additional 493 shares in the last quarter. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association in the 4th quarter worth about $62,000. Whipplewood Advisors LLC bought a new position in Zions Bancorporation, National Association in the 4th quarter worth about $115,000. Finally, Smartleaf Asset Management LLC increased its stake in Zions Bancorporation, National Association by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock worth $122,000 after acquiring an additional 368 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was 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 owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,029 shares of company stock valued at $1,855,321. Company insiders own 2.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. UBS Group assumed coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective on the stock. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, January 7th. Morgan Stanley reduced their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Barclays raised their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 22nd. Finally, Stephens restated an “equal weight” rating and set a $64.00 price target on shares of Zions Bancorporation, National Association in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.94.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $45.73 on Thursday. The business has a fifty day moving average of $51.10 and a 200 day moving average of $53.56. Zions Bancorporation, National Association has a one year low of $39.05 and a one year high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $6.75 billion, a P/E ratio of 9.24, a PEG ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION) last released 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. 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 analyst estimates of $787.70 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

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

Zions Bancorporation, National Association Announces Dividend

The business also recently declared 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. This represents a $1.72 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

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.