MetLife Investment Management LLC Boosts Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

MetLife Investment Management LLC lifted its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,211 shares of the bank's stock after purchasing an additional 6,928 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Zions Bancorporation, National Association worth $4,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZION. EverSource Wealth Advisors LLC boosted its stake in Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after buying an additional 183 shares during the period. Covestor Ltd boosted its position in shares of Zions Bancorporation, National Association by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after purchasing an additional 479 shares during the period. SRS Capital Advisors Inc. increased its holdings in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock valued at $49,000 after purchasing an additional 493 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in Zions Bancorporation, National Association in the fourth quarter valued at approximately $62,000. Finally, Whipplewood Advisors LLC acquired a new position in Zions Bancorporation, National Association during the fourth quarter worth $115,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION opened at $45.25 on Friday. Zions Bancorporation, National Association has a 12 month low of $39.32 and a 12 month high of $63.22. The firm has a market capitalization of $6.68 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.61 and a beta of 0.92. 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 company's fifty day moving average price is $48.26 and its 200 day moving average price is $53.28.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same period in the previous year, the business earned $0.96 EPS. As a group, sell-side analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association announced that its board has approved a stock buyback program 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 programs are usually a sign that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's payout ratio is currently 34.75%.

Insider Transactions at Zions Bancorporation, National Association

In related news, 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 transaction of $1,280,344.31. Following the transaction, the executive vice president now owns 29,313 shares of the company's stock, valued at $1,655,305.11. This trade 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 link. Also, EVP Steven Dan Stephens sold 10,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,029 shares of company stock worth $1,855,321. Insiders own 2.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ZION shares. Barclays boosted their price objective on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a report on Wednesday, January 22nd. Robert W. Baird cut their price target on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods lowered their price objective on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday. DA Davidson increased their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley dropped their price target on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and an average target price of $59.00.

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.

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