Seven Eight Capital LP Cuts Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Seven Eight Capital LP reduced its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 17.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,460 shares of the bank's stock after selling 10,800 shares during the quarter. Seven Eight Capital LP's holdings in Zions Bancorporation, National Association were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ZION. Comerica Bank grew its position in shares of Zions Bancorporation, National Association by 331.1% in the first quarter. Comerica Bank now owns 118,861 shares of the bank's stock valued at $5,159,000 after purchasing an additional 91,289 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Zions Bancorporation, National Association during the first quarter valued at about $1,959,000. Retirement Systems of Alabama lifted its holdings in shares of Zions Bancorporation, National Association by 469.8% in the first quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank's stock worth $8,074,000 after buying an additional 153,387 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Zions Bancorporation, National Association by 345.2% in the first quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank's stock valued at $3,831,000 after acquiring an additional 68,445 shares during the period. Finally, Corient Private Wealth LLC grew its stake in Zions Bancorporation, National Association by 22.3% during the fourth quarter. Corient Private Wealth LLC now owns 113,846 shares of the bank's stock valued at $4,994,000 after acquiring an additional 20,721 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the company's stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the transaction, the president now directly owns 74,286 shares in the company, valued at approximately $3,850,243.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Bruce K. Alexander sold 5,156 shares of the company's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the sale, the vice president now directly owns 17,857 shares of the company's stock, valued at $925,528.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Scott J. Mclean sold 60,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the transaction, the president now owns 74,286 shares of the company's stock, valued at approximately $3,850,243.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,073 shares of company stock valued at $3,476,298. Company insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Trading Up 3.1 %

Shares of NASDAQ ZION traded up $1.44 during mid-day trading on Thursday, hitting $48.45. The stock had a trading volume of 2,235,978 shares, compared to its average volume of 2,210,246. The firm has a market cap of $7.16 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. The business has a 50 day moving average price of $47.96 and a two-hundred day moving average price of $44.15. Zions Bancorporation, National Association has a 1 year low of $28.90 and a 1 year high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.10 by $0.18. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $761.61 million. During the same period in the prior year, the firm posted $1.11 earnings per share. The company's quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Zions Bancorporation, National Association will post 4.52 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.41 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.38%. Zions Bancorporation, National Association's dividend payout ratio is currently 41.21%.

Analyst Ratings Changes

Several research firms have issued reports on ZION. Robert W. Baird increased their target price on shares of Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 23rd. Stephens lifted their price objective on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd. Jefferies Financial Group reduced their target price on Zions Bancorporation, National Association from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Wednesday, September 11th. Wedbush raised their price target on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, July 23rd. Finally, Compass Point boosted their price objective on Zions Bancorporation, National Association from $43.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.83.

About Zions Bancorporation, National Association

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.