Alliancebernstein L.P. Sells 198,292 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Alliancebernstein L.P. lessened its stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,980,556 shares of the bank's stock after selling 198,292 shares during the quarter. Alliancebernstein L.P. owned about 1.34% of Zions Bancorporation, National Association worth $107,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings 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 worth $29,000 after purchasing an additional 183 shares during the last quarter. SRS Capital Advisors Inc. grew its position in shares of 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 buying an additional 493 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth approximately $62,000. Whipplewood Advisors LLC acquired a new position in Zions Bancorporation, National Association in the fourth quarter valued at approximately $115,000. Finally, Smartleaf Asset Management LLC boosted its stake in 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 acquiring an additional 368 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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Zions Bancorporation, National Association Stock Up 3.3 %

Shares of NASDAQ ZION traded up $1.36 during midday trading on Monday, reaching $42.75. The company's stock had a trading volume of 2,524,630 shares, compared to its average volume of 1,560,320. Zions Bancorporation, National Association has a fifty-two week low of $39.05 and a fifty-two week high of $63.22. The stock has a 50 day simple moving average of $52.52 and a 200-day simple moving average of $53.78. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.61 and a beta of 0.92. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million for the quarter, compared to analysts' expectations of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. Equities research analysts predict 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 stock buyback plan on Monday, February 24th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the bank to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's payout ratio is presently 34.75%.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 29,313 shares of the company's stock, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the business's stock in a transaction on 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 in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,029 shares of company stock valued at $1,855,321 in the last quarter. Company insiders own 2.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ZION. Stephens reissued an "equal weight" rating and issued a $64.00 price target on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on 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. UBS Group initiated coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $64.00 price target for the company. Wells Fargo & Company reduced their price objective 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. Finally, DA Davidson increased their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average 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.