Raymond James Financial Inc. Invests $7.74 Million in Zions Bancorporation, National Association (NASDAQ:ZION)

Raymond James Financial Inc. bought a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 142,659 shares of the bank's stock, valued at approximately $7,739,000. Raymond James Financial Inc. owned 0.10% of Zions Bancorporation, National Association at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System lifted its stake in shares of Zions Bancorporation, National Association by 0.8% in the fourth quarter. Arizona State Retirement System now owns 42,839 shares of the bank's stock worth $2,324,000 after acquiring an additional 322 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at $4,237,000. Cookson Peirce & Co. Inc. bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at $651,000. Victory Capital Management Inc. increased its position in shares of Zions Bancorporation, National Association by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 151,515 shares of the bank's stock worth $8,220,000 after buying an additional 864 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Zions Bancorporation, National Association by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after buying an additional 194,995 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

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Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $557,100.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 32,713 shares of company stock worth $1,839,686 in the last 90 days. Insiders own 2.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ZION. JPMorgan Chase & Co. cut their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. UBS Group initiated coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a "neutral" rating and a $64.00 target price for the company. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 target price for the company in a report on Tuesday, January 7th. Royal Bank of Canada raised their price objective on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 22nd. Finally, Barclays boosted their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.18.

Zions Bancorporation, National Association Stock Down 0.7 %

Shares of Zions Bancorporation, National Association stock traded down $0.35 on Wednesday, hitting $50.66. The company had a trading volume of 968,182 shares, compared to its average volume of 1,492,789. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year 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 stock has a 50 day moving average of $54.12 and a 200-day moving average of $53.67. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 1.61 and a beta of 1.10.

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

Zions Bancorporation, National Association declared that its board has authorized a stock repurchase program on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's payout ratio is currently 34.75%.

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.