DAVENPORT & Co LLC Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

DAVENPORT & Co LLC acquired a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,700 shares of the bank's stock, valued at approximately $309,000.

Other large investors have also made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in shares of Zions Bancorporation, National Association during the third quarter valued at about $28,000. Venturi Wealth Management LLC raised its position 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 worth $117,000 after purchasing an additional 1,671 shares in the last quarter. Brooklyn Investment Group acquired a new position in Zions Bancorporation, National Association in the third quarter worth about $119,000. TD Private Client Wealth LLC raised its position in Zions Bancorporation, National Association by 15.2% in the third quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank's stock worth $134,000 after purchasing an additional 375 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new position in Zions Bancorporation, National Association in the fourth quarter worth about $201,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Paul E. Burdiss sold 9,506 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the transaction, the executive vice president now directly owns 86,232 shares of the company's stock, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 9,693 shares of company stock valued at $591,377. 2.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZION has been the subject of several recent research reports. Barclays increased their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a research report on Wednesday, January 22nd. Morgan Stanley increased their price target on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods increased their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada increased their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock 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 issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $60.71.

Zions Bancorporation, National Association Price Performance

Shares of ZION traded down $1.37 during mid-day trading on Wednesday, hitting $55.47. 853,752 shares of the company traded hands, compared to its average volume of 1,182,370. Zions Bancorporation, National Association has a one year low of $38.01 and a one year 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 has a 50-day moving average of $56.52 and a 200 day moving average of $52.81. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.74 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The business had revenue of $820.00 million for the quarter, compared to analysts' expectations of $787.70 million. During the same period in the prior year, the firm earned $0.78 earnings per share. Zions Bancorporation, National Association's revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts expect that Zions Bancorporation, National Association will post 5.26 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.10%. Zions Bancorporation, National Association's payout ratio is presently 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.