First Trust Advisors LP Grows Position in Zions Bancorporation, National Association (NASDAQ:ZION)

First Trust Advisors LP grew its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 20.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,267,568 shares of the bank's stock after acquiring an additional 390,601 shares during the period. First Trust Advisors LP owned about 1.54% of Zions Bancorporation, National Association worth $123,016,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ZION. Virtu Financial LLC acquired a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at $583,000. Fisher Asset Management LLC bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $389,000. Strategic Financial Concepts LLC acquired a new stake in Zions Bancorporation, National Association in the 4th quarter valued at $2,538,000. Polymer Capital Management US LLC bought a new position in shares of Zions Bancorporation, National Association in the fourth quarter valued at $229,000. Finally, SG Americas Securities LLC grew its holdings in shares of Zions Bancorporation, National Association by 244.8% during the fourth quarter. SG Americas Securities LLC now owns 28,405 shares of the bank's stock valued at $1,541,000 after buying an additional 20,167 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Stock Down 0.9 %

NASDAQ:ZION traded down $0.41 during trading hours on Friday, reaching $44.84. 992,928 shares of the company traded hands, compared to its average volume of 1,573,252. Zions Bancorporation, National Association has a 1 year low of $39.32 and a 1 year high of $63.22. The stock has a market capitalization of $6.62 billion, a P/E ratio of 9.06, a P/E/G ratio of 1.61 and a beta of 0.92. The business's 50-day moving average price is $48.26 and its two-hundred day moving average price is $53.28. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The company 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 previous year, the business posted $0.96 EPS. Analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a stock repurchase program on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.84%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 33.59%.

Insider Buying and Selling at Zions Bancorporation, National Association

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 transaction of $557,100.00. Following the sale, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,029 shares of company stock worth $1,855,321. Insiders own 2.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods decreased their price objective on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday. DA Davidson upped their target price on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Royal Bank of Canada cut 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 research report on Tuesday. Finally, Stephens reduced their price target on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $59.00.

About Zions Bancorporation, National Association

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.