Amundi Trims Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Amundi cut its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 69.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,048 shares of the bank's stock after selling 172,412 shares during the quarter. Amundi owned approximately 0.05% of Zions Bancorporation, National Association worth $4,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ZION. State Street Corp grew its stake in shares of Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank's stock worth $332,515,000 after purchasing an additional 896,889 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Zions Bancorporation, National Association by 25.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank's stock worth $126,762,000 after purchasing an additional 538,049 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Zions Bancorporation, National Association in the third quarter worth about $24,647,000. Charles Schwab Investment Management Inc. grew its stake in shares of Zions Bancorporation, National Association by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after purchasing an additional 194,995 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth about $7,739,000. 76.84% of the stock is owned by institutional investors.

Remove Ads

Zions Bancorporation, National Association Stock Up 0.6 %

NASDAQ ZION traded up $0.30 during mid-day trading on Thursday, reaching $49.64. The stock had a trading volume of 1,873,849 shares, compared to its average volume of 1,474,819. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. The stock has a market cap of $7.34 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The company has a fifty day moving average price of $54.48 and a 200 day moving average price of $53.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. During the same period in the previous year, the business earned $0.78 EPS. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.46%. Zions Bancorporation, National Association's payout ratio is currently 34.75%.

Zions Bancorporation, National Association announced that its board has approved 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 repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their target price on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 22nd. DA Davidson raised their price objective 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. 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 objective for the company in a report on Tuesday, January 7th. Barclays raised their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a report on Wednesday, January 22nd. Finally, Compass Point raised their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Zions Bancorporation, National Association currently has an average rating of "Hold" and a consensus price target of $61.18.

Insider Buying and Selling

In other news, EVP Steven Dan Stephens sold 10,000 shares of the 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 transaction, the executive vice president now directly owns 45,847 shares of the company's stock, valued at $2,554,136.37. This represents a 17.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,713 shares of company stock worth $1,839,686 in the last three months. 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.