Martingale Asset Management L P raised its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 151.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,157 shares of the bank's stock after purchasing an additional 47,015 shares during the period. Martingale Asset Management L P owned 0.05% of Zions Bancorporation, National Association worth $4,240,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Zions Bancorporation, National Association by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after acquiring an additional 285,588 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of 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 last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of 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 worth $146,396,000 after purchasing an additional 14,070 shares during the period. Geode Capital Management LLC lifted its stake in Zions Bancorporation, National Association by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank's stock valued at $124,592,000 after buying an additional 30,030 shares during the period. Finally, Norges Bank bought a new position in Zions Bancorporation, National Association during the fourth quarter worth about $73,542,000. Institutional investors own 76.84% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on ZION. Morgan Stanley reduced their price objective on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Stephens reaffirmed an "equal weight" rating and set a $64.00 price objective on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods boosted their target price on 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. UBS Group assumed coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a "neutral" rating and a $64.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective on 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. 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 stock. According to data from MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of "Hold" and an average target price of $61.81.
Check Out Our Latest Research Report on ZION
Zions Bancorporation, National Association Price Performance
Shares of NASDAQ:ZION traded up $1.34 during midday trading on Tuesday, hitting $44.24. The stock had a trading volume of 325,194 shares, compared to its average volume of 1,586,109. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6.53 billion, a P/E ratio of 8.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The company's 50-day moving average price is $50.24 and its 200-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.
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 for the quarter, beating 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 firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787.70 million. During the same quarter last year, the business posted $0.78 EPS. The company's revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.
Zions Bancorporation, National Association Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's payout ratio is 34.75%.
Zions Bancorporation, National Association announced that its Board of Directors has approved a stock buyback plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling at Zions Bancorporation, National Association
In other news, EVP Jennifer Anne Smith sold 22,673 shares of the company's stock in a transaction that occurred on 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 transaction, 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 filing with the SEC, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the transaction, the executive vice president now directly owns 45,847 shares of the company's stock, valued at approximately $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. Insiders have sold 33,029 shares of company stock worth $1,855,321 over the last quarter. Corporate insiders own 2.22% of the company's stock.
About Zions Bancorporation, National Association
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Free Report)
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.
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