CIBC Private Wealth Group LLC Raises Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

CIBC Private Wealth Group LLC raised its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 1,065.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,679 shares of the bank's stock after acquiring an additional 17,990 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Zions Bancorporation, National Association were worth $1,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted 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 valued at $29,000 after acquiring an additional 183 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock valued at $49,000 after acquiring an additional 493 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth approximately $62,000. Whipplewood Advisors LLC purchased a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth approximately $115,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Zions Bancorporation, National Association by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank's stock worth $122,000 after acquiring an additional 368 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

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Zions Bancorporation, National Association Stock Performance

Shares of ZION stock traded up $1.17 during mid-day trading on Tuesday, reaching $43.82. 432,843 shares of the company's stock traded hands, compared to its average volume of 1,696,171. The firm has a 50 day moving average price of $52.22 and a two-hundred day moving average price of $53.74. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $6.47 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 13.65% and a net margin of 15.70%. The business's quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, research analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association declared that its board has approved a stock repurchase program on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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 $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.92%. Zions Bancorporation, National Association's payout ratio is currently 34.75%.

Insider Transactions at Zions Bancorporation, National Association

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 stock was 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 owns 29,313 shares of the company's stock, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. 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 three months. Corporate insiders own 2.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ZION shares. UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a "neutral" rating and a $64.00 price objective for the company. Compass Point increased their price target on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on shares of 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. DA Davidson upped 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. Finally, Wells Fargo & Company dropped their price target on Zions Bancorporation, National Association from $62.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $60.94.

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.