Zions Bancorporation, National Association (NASDAQ:ZION) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 925.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,491 shares of the bank's stock after buying an additional 9,468 shares during the period. Harvest Fund Management Co. Ltd's holdings in Zions Bancorporation, National Association were worth $569,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank's stock worth $332,515,000 after acquiring an additional 896,889 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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. Vaughan Nelson Investment Management L.P. lifted its position in Zions Bancorporation, National Association by 0.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock valued at $146,396,000 after purchasing an additional 14,070 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Zions Bancorporation, National Association by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank's stock worth $124,592,000 after buying an additional 30,030 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter worth about $33,961,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

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Zions Bancorporation, National Association Stock Up 0.4 %

Shares of ZION traded up $0.19 during midday trading on Tuesday, reaching $51.01. 1,950,586 shares of the stock were exchanged, compared to its average volume of 1,495,109. The company has a market capitalization of $7.53 billion, a P/E ratio of 10.31, a PEG ratio of 1.61 and a beta of 1.10. 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 has a 52 week low of $39.05 and a 52 week high of $63.22. The company's 50 day moving average is $54.23 and its two-hundred day moving average is $53.63.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping 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 company 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 business earned $0.78 EPS. The firm's quarterly revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock buyback plan on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.37%. Zions Bancorporation, National Association's dividend payout ratio is currently 34.75%.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, 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 link. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction 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 $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. In the last 90 days, insiders have sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays increased their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a report on Wednesday, January 22nd. Morgan Stanley dropped their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a "neutral" rating and a $64.00 price target on the stock. Compass Point lifted their price objective 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. Finally, Royal Bank of Canada increased their target price on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 22nd. One investment 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, Zions Bancorporation, National Association presently has a consensus rating of "Hold" and a consensus target price of $61.18.

Zions Bancorporation, National Association 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.