78,107 Shares in Zions Bancorporation, National Association (NASDAQ:ZION) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 78,107 shares of the bank's stock, valued at approximately $4,237,000. Proficio Capital Partners LLC owned about 0.05% of Zions Bancorporation, National Association as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Zions Bancorporation, National Association by 14.6% during the third quarter. State Street Corp now owns 7,041,818 shares of the bank's stock worth $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Zions Bancorporation, National Association by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after acquiring an additional 194,995 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Zions Bancorporation, National Association by 0.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock valued at $146,396,000 after acquiring an additional 14,070 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank's stock valued at $124,592,000 after acquiring an additional 30,030 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter worth about $24,647,000. Institutional investors and hedge funds own 76.84% of the company's stock.

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Insiders Place Their Bets

In related news, EVP Steven Dan Stephens sold 10,000 shares of the 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 completion of the sale, the executive vice president now owns 45,847 shares of the company's stock, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred on Tuesday, February 18th. The shares were 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 directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,713 shares of company stock valued at $1,839,686 over the last quarter. Company insiders own 2.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $64.00 price target on the stock. Morgan Stanley reduced their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, January 22nd. Finally, Compass Point increased their target price on shares of 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. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and a consensus price target of $61.18.

Zions Bancorporation, National Association Price Performance

Shares of ZION traded down $0.13 during trading hours on Friday, reaching $49.51. 12,254,286 shares of the company traded hands, compared to its average volume of 1,512,164. The stock has a market capitalization of $7.32 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The stock has a fifty day simple moving average of $54.38 and a 200 day simple moving average of $53.51. 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 quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.08. The company had revenue of $820.00 million for the quarter, compared to analysts' expectations of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. As a group, research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a share repurchase program on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.47%. Zions Bancorporation, National Association's payout ratio is 34.75%.

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.