Illinois Municipal Retirement Fund Boosts Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Illinois Municipal Retirement Fund raised its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 55.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,693 shares of the bank's stock after purchasing an additional 9,128 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Zions Bancorporation, National Association were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ZION. Venturi Wealth Management LLC grew its position in Zions Bancorporation, National Association by 209.1% during 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 during the period. Brooklyn Investment Group bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $119,000. TD Private Client Wealth LLC increased its stake in shares of 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 purchasing an additional 375 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter worth approximately $201,000. Finally, Crewe Advisors LLC lifted its stake in Zions Bancorporation, National Association by 24.9% in the third quarter. Crewe Advisors LLC now owns 3,950 shares of the bank's stock valued at $187,000 after purchasing an additional 787 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ZION shares. DA Davidson lifted their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Stephens reissued an "equal weight" rating and issued a $64.00 price target on shares of Zions Bancorporation, National Association in a research report on Wednesday. Royal Bank of Canada upped their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company increased their target price on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $60.71.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction 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 owns 45,847 shares of the company's stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm'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 sale, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,713 shares of company stock valued at $1,839,686 in the last ninety days. Company insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION traded up $0.25 during mid-day trading on Wednesday, reaching $51.28. The stock had a trading volume of 1,842,446 shares, compared to its average volume of 1,320,289. Zions Bancorporation, National Association has a one year low of $39.05 and a one year 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 50 day moving average price of $55.80 and a two-hundred day moving average price of $53.55. The stock has a market capitalization of $7.58 billion, a P/E ratio of 10.36, a P/E/G ratio of 1.61 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued 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. 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 quarter last year, the company earned $0.78 EPS. The firm's revenue was up 12.2% compared to the same quarter last year. As a group, analysts expect 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 declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.35%. Zions Bancorporation, National Association's payout ratio is 34.75%.

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

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.