Treasurer of the State of North Carolina Has $3.45 Million Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Treasurer of the State of North Carolina increased its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,586 shares of the bank’s stock after purchasing an additional 400 shares during the period. Treasurer of the State of North Carolina’s holdings in Zions Bancorporation, National Association were worth $3,450,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays increased their price objective on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Stephens restated an “equal weight” rating and set a $64.00 price objective on shares of Zions Bancorporation, National Association in a report on Wednesday, March 5th. Wells Fargo & Company dropped their target price on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. The Goldman Sachs Group upgraded shares of 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 note on Tuesday, January 7th. Finally, Morgan Stanley dropped their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.81.

Zions Bancorporation, National Association Trading Down 1.0 %

Shares of ZION opened at $43.36 on Thursday. Zions Bancorporation, National Association has a twelve month low of $39.05 and a twelve month high of $63.22. The stock has a market cap of $6.40 billion, a PE ratio of 8.76, a P/E/G ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $49.67 and its 200-day moving average price is $53.39.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $820.00 million for the quarter, compared to analyst estimates of $787.70 million. During the same quarter in the prior year, the firm posted $0.78 EPS. Zions Bancorporation, National Association’s revenue was up 12.2% on a year-over-year basis. On average, equities analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock repurchase program 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 programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the firm’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 sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business’s 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 directly owns 29,313 shares of the company’s stock, valued at approximately $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.

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.