Kayne Anderson Rudnick Investment Management LLC Buys 10,000 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 40,000.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,025 shares of the bank's stock after acquiring an additional 10,000 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Zions Bancorporation, National Association were worth $544,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after purchasing an additional 183 shares during the period. CIBC Asset Management Inc raised its holdings in Zions Bancorporation, National Association by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock valued at $245,000 after acquiring an additional 224 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Zions Bancorporation, National Association by 1.5% in the 4th quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank's stock worth $937,000 after acquiring an additional 249 shares during the period. Jackson Creek Investment Advisors LLC grew its holdings in shares of Zions Bancorporation, National Association by 3.3% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank's stock worth $490,000 after purchasing an additional 285 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Zions Bancorporation, National Association by 4.7% in the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank's stock valued at $364,000 after purchasing an additional 303 shares in the last quarter. Institutional investors own 76.84% of the company's stock.

Insider Activity

In other news, EVP Steven Dan Stephens sold 10,000 shares of the company's stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 approximately $1,655,305.11. This represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,029 shares of company stock worth $1,855,321 in the last 90 days. Corporate insiders own 2.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. 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 report on Tuesday, January 7th. Stephens decreased their price objective on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a report on Tuesday. Wells Fargo & Company dropped their target price on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a report on Tuesday. Robert W. Baird decreased their price target on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, DA Davidson increased their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $59.00.

Zions Bancorporation, National Association Trading Down 0.9 %

Shares of NASDAQ:ZION traded down $0.41 during midday trading on Friday, hitting $44.84. The company had a trading volume of 992,928 shares, compared to its average volume of 1,573,426. The firm has a fifty day simple moving average of $48.02 and a 200 day simple moving average of $53.27. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.61 and a beta of 0.92. 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 12 month low of $39.32 and a 12 month high of $63.22.

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

Zions Bancorporation, National Association announced that its board has initiated a share buyback plan on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio is currently 33.59%.

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.