Norges Bank Acquires New Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Norges Bank acquired a new stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,355,620 shares of the bank's stock, valued at approximately $73,542,000. Norges Bank owned about 0.92% of Zions Bancorporation, National Association at the end of the most recent reporting period.

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

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Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION traded up $1.26 during midday trading on Monday, hitting $42.65. The company had a trading volume of 6,208,820 shares, compared to its average volume of 1,574,410. 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 $6.29 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. 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 business's 50-day simple moving average is $52.22 and its 200-day simple moving average is $53.74.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.08. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. On average, research analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced 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. This represents a $1.72 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio (DPR) 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 shares. This buyback authorization authorizes the bank to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on ZION. Compass Point upped their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Wells Fargo & Company lowered their price target on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Stephens reaffirmed an "equal weight" rating and issued a $64.00 price objective on shares of Zions Bancorporation, National Association in a report on Wednesday, March 5th. Barclays increased their target price on shares of 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. Finally, Royal Bank of Canada lifted their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $60.94.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the firm'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 directly owns 45,847 shares of the company's stock, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company'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 completion of the transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,029 shares of company stock worth $1,855,321 in the last ninety days. 2.22% of the stock is owned by 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.