California Public Employees Retirement System Decreases Position in Zions Bancorporation, National Association (NASDAQ:ZION)

California Public Employees Retirement System cut its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,594 shares of the bank's stock after selling 11,002 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Zions Bancorporation, National Association worth $12,998,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in Zions Bancorporation, National Association by 51.1% in the fourth 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 period. CIBC Asset Management Inc grew its holdings in Zions Bancorporation, National Association by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock worth $245,000 after purchasing an additional 224 shares during the period. Contravisory Investment Management Inc. grew its holdings in Zions Bancorporation, National Association by 1.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank's stock worth $937,000 after purchasing an additional 249 shares during the period. Jackson Creek Investment Advisors LLC grew its holdings in Zions Bancorporation, National Association by 3.3% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank's stock worth $490,000 after purchasing an additional 285 shares during the period. Finally, Blair William & Co. IL grew its holdings in Zions Bancorporation, National Association by 4.7% in the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank's stock worth $364,000 after purchasing an additional 303 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on ZION shares. Barclays raised their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a research note on Wednesday, January 22nd. Morgan Stanley lowered their price objective on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. DA Davidson lifted 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 research report on Wednesday, January 22nd. UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $64.00 target price for the company. Finally, Stephens restated 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. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and an average target price of $60.94.

Zions Bancorporation, National Association Price Performance

ZION traded down $3.38 during trading hours on Thursday, hitting $42.35. The company's stock had a trading volume of 488,576 shares, compared to its average volume of 1,584,367. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The business's 50-day moving average price is $51.10 and its 200-day moving average price is $53.56.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released 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. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. Sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

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 dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 4.06%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the transaction, the executive vice president now owns 45,847 shares in the company, 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 SEC, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm's 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 completion of the transaction, the executive vice president now 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 a total of 33,029 shares of company stock worth $1,855,321 over the last 90 days. 2.22% of the stock is currently 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.