KLP Kapitalforvaltning AS Acquires New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

KLP Kapitalforvaltning AS purchased a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 30,000 shares of the bank's stock, valued at approximately $1,628,000.

A number of other hedge funds have also recently made changes to their positions in ZION. EverSource Wealth Advisors LLC raised its stake in Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock valued at $29,000 after purchasing an additional 183 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock valued at $49,000 after buying an additional 493 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $62,000. Whipplewood Advisors LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $115,000. Finally, Smartleaf Asset Management LLC grew its position in Zions Bancorporation, National Association by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank's stock worth $122,000 after acquiring an additional 368 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Trading Up 1.0 %

NASDAQ:ZION traded up $0.52 during trading hours on Wednesday, hitting $50.00. The company had a trading volume of 174,765 shares, compared to its average volume of 1,540,544. 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 stock has a 50-day moving average price of $53.30 and a 200 day moving average price of $53.82. The company has a market capitalization of $7.38 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a 52 week low of $39.05 and a 52 week high of $63.22.

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Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating 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 firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $787.70 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The company's revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a share buyback plan on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company 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 dividend yield of 3.44%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 34.75%.

Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the executive vice president now owns 45,847 shares of the company's stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,713 shares of company stock valued at $1,839,686. Corporate insiders own 2.22% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ZION. Morgan Stanley lowered their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. UBS Group initiated coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a "neutral" rating and a $64.00 price objective on the stock. Compass Point upped their target price on 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. DA Davidson lifted their price target on shares of 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, January 22nd. One 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $60.94.

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.