Convergence Investment Partners LLC Takes Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Convergence Investment Partners LLC bought a new stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 31,527 shares of the bank's stock, valued at approximately $1,710,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Venturi Wealth Management LLC boosted its stake in Zions Bancorporation, National Association by 209.1% in the third quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank's stock valued at $117,000 after buying an additional 1,671 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Zions Bancorporation, National Association during the third quarter valued at about $119,000. TD Private Client Wealth LLC grew its holdings in Zions Bancorporation, National Association by 15.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank's stock worth $134,000 after acquiring an additional 375 shares during the last quarter. Crewe Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 24.9% in the third quarter. Crewe Advisors LLC now owns 3,950 shares of the bank's stock worth $187,000 after purchasing an additional 787 shares during the last quarter. Finally, Diversify Wealth Management LLC acquired a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at about $201,000. Institutional investors own 76.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Compass Point lifted their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Evercore ISI lifted their price objective on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada boosted their target price on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association presently has an average rating of "Hold" and an average target price of $60.71.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was 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 of the company's stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the sale, the executive vice president now directly owns 45,847 shares in the company, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,219 shares of company stock worth $2,420,122. Corporate insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION traded down $1.70 during trading on Friday, hitting $53.42. The company had a trading volume of 1,364,405 shares, compared to its average volume of 1,204,218. Zions Bancorporation, National Association has a 12 month low of $38.01 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 $7.89 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The stock has a 50 day simple moving average of $56.11 and a 200 day simple moving average of $53.05.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.08. The company had revenue of $820.00 million for the quarter, compared to analysts' expectations 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 was up 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. As a group, analysts anticipate that Zions Bancorporation, National Association will post 5.38 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio is currently 34.75%.

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.