Canada Pension Plan Investment Board Decreases Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Canada Pension Plan Investment Board decreased its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 89.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,100 shares of the bank's stock after selling 125,900 shares during the quarter. Canada Pension Plan Investment Board's holdings in Zions Bancorporation, National Association were worth $765,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Zions Bancorporation, National Association by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after acquiring an additional 285,588 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Zions Bancorporation, National Association by 4.2% during 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 in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Zions Bancorporation, National Association by 0.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock valued at $146,396,000 after purchasing an additional 14,070 shares during the period. Norges Bank purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at approximately $73,542,000. Finally, Invesco Ltd. raised its stake in shares of Zions Bancorporation, National Association by 9.8% during the 4th quarter. Invesco Ltd. now owns 949,575 shares of the bank's stock worth $51,514,000 after buying an additional 85,009 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Trading Up 0.2 %

NASDAQ:ZION traded up $0.10 on Monday, hitting $44.94. The stock had a trading volume of 1,874,793 shares, compared to its average volume of 1,573,042. The company has a fifty day moving average price of $48.02 and a two-hundred day moving average price of $53.34. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 9.08, a PEG 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. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. During the same period in the prior year, the business posted $0.96 earnings per share. Equities research 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 announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.83%. Zions Bancorporation, National Association's payout ratio is currently 33.59%.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a share buyback program on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

ZION has been the subject of several recent analyst reports. Argus raised shares of Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a report on Monday. Stephens reduced their price target on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. DA Davidson lifted their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group upgraded 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 report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $58.76.

Insiders Place Their Bets

In related news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. The trade was a 43.61 % 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 over the last 90 days. 2.22% of the stock is owned by company insiders.

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.