Charles Schwab Investment Management Inc. Has $264.90 Million Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Charles Schwab Investment Management Inc. lifted its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,882,983 shares of the bank's stock after purchasing an additional 194,995 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.31% of Zions Bancorporation, National Association worth $264,902,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC bought a new position in Zions Bancorporation, National Association in the 3rd quarter worth approximately $583,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Zions Bancorporation, National Association during the third quarter valued at $510,000. Strategic Financial Concepts LLC acquired a new stake in Zions Bancorporation, National Association in the fourth quarter worth about $2,538,000. State Street Corp lifted its position in Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank's stock valued at $332,515,000 after purchasing an additional 896,889 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Zions Bancorporation, National Association by 14.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 351,148 shares of the bank's stock valued at $16,581,000 after purchasing an additional 43,720 shares during the last quarter. 76.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ZION. The Goldman Sachs Group raised shares of 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 note on Tuesday, January 7th. Stephens reiterated an "equal weight" rating and set a $64.00 target price on shares of Zions Bancorporation, National Association in a research report on Wednesday. DA Davidson raised their price target on 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. Royal Bank of Canada lifted their price objective on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 22nd. Finally, Compass Point increased their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association currently has an average rating of "Hold" and a consensus target price of $60.71.

Zions Bancorporation, National Association Trading Up 0.5 %

Shares of NASDAQ:ZION opened at $51.28 on Thursday. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22. The company's fifty day simple moving average is $55.80 and its 200 day simple moving average is $53.55. 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 (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million for 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 quarter last year, the business posted $0.78 EPS. As a group, research analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 34.75%.

Zions Bancorporation, National Association announced that its board has approved 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 reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business'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 sale, the executive vice president now directly owns 29,313 shares of the company's stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value 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 $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,713 shares of company stock valued at $1,839,686 in the last quarter. 2.22% of the stock is currently 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.

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