Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 54.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,833 shares of the bank's stock after selling 57,448 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Zions Bancorporation, National Association were worth $2,595,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ZION. Norges Bank purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at approximately $73,542,000. Boston Partners purchased a new stake in Zions Bancorporation, National Association in the 4th quarter worth $33,961,000. Vanguard Group Inc. raised its position in Zions Bancorporation, National Association by 1.5% during 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. lifted its holdings 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 valued at $264,902,000 after purchasing an additional 194,995 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth about $7,739,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group raised Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada decreased their price objective on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 22nd. Barclays upped their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird decreased their price target on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association presently has an average rating of "Hold" and a consensus price target of $58.76.

Zions Bancorporation, National Association Trading Up 0.7 %

Shares of ZION stock traded up $0.32 on Tuesday, hitting $45.26. The stock had a trading volume of 1,486,920 shares, compared to its average volume of 1,572,699. The company's 50 day moving average price is $47.79 and its 200-day moving average price is $53.30. Zions Bancorporation, National Association has a 1 year low of $39.32 and a 1 year high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $6.68 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $795.00 million for the quarter, compared to analysts' expectations of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same quarter in the prior year, the company earned $0.96 earnings per share. Analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's payout ratio is currently 33.59%.

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

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 45,847 shares of the company's stock, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 29,313 shares of the company's stock, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,029 shares of company stock worth $1,855,321. Company insiders own 2.22% of the company's stock.

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.