LSV Asset Management Has $198.24 Million Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

LSV Asset Management cut its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,654,177 shares of the bank's stock after selling 294,200 shares during the period. LSV Asset Management owned approximately 2.47% of Zions Bancorporation, National Association worth $198,239,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ZION. Vanguard Group Inc. lifted its stake in Zions Bancorporation, National Association by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock valued at $1,032,775,000 after buying an additional 285,588 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Zions Bancorporation, National Association by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after purchasing an additional 194,995 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Zions Bancorporation, National Association by 0.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock worth $146,396,000 after purchasing an additional 14,070 shares in the last quarter. Geode Capital Management LLC raised its stake in Zions Bancorporation, National Association by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank's stock valued at $124,592,000 after purchasing an additional 30,030 shares during the period. Finally, Norges Bank purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at $73,542,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Remove Ads

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association 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 sale, the executive vice president now directly owns 45,847 shares of the company's stock, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the transaction, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,029 shares of company stock valued at $1,855,321. Corporate insiders own 2.22% of the company's stock.

Wall Street Analyst Weigh In

ZION has been the subject of several recent research reports. 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 report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a "neutral" rating and a $64.00 price objective on the stock. Barclays upped their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. dropped their price target 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $61.81.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION traded up $1.20 during midday trading on Tuesday, reaching $44.10. The company's stock had a trading volume of 393,300 shares, compared to its average volume of 1,586,352. The business's 50 day moving average price is $50.24 and its two-hundred day moving average price is $53.52. Zions Bancorporation, National Association has a fifty-two week low of $39.05 and a fifty-two week 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 company has a market cap of $6.51 billion, a P/E ratio of 8.91, a P/E/G ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly 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 return on equity of 13.65% and a net margin of 15.70%. 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 business earned $0.78 earnings per share. Zions Bancorporation, National Association's revenue was up 12.2% on a year-over-year basis. On average, analysts forecast 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 repurchase 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.90%. Zions Bancorporation, National Association's payout ratio is 34.75%.

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.