Advisory Services Network LLC Boosts Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Advisory Services Network LLC increased its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,146 shares of the bank’s stock after buying an additional 2,237 shares during the quarter. Advisory Services Network LLC’s holdings in Zions Bancorporation, National Association were worth $930,000 as of its most recent SEC filing.

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

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $42.00 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 stock has a market capitalization of $6.20 billion, a PE ratio of 8.48, a P/E/G ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a fifty-two week low of $39.05 and a fifty-two week high of $63.22. The company has a fifty day moving average of $50.53 and a two-hundred day moving average of $53.55.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

Zions Bancorporation, National Association declared that its board has authorized a share buyback program on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

ZION has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company cut their price target on Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price objective for the company. Royal Bank of Canada raised their target price on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.81.

Insider Buying and Selling

In related news, 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 transaction of $1,280,344.31. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,029 shares of company stock worth $1,855,321. 2.22% of the stock is owned by corporate 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.