Sequoia Financial Advisors LLC Buys 39,549 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Sequoia Financial Advisors LLC raised its stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 143.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,118 shares of the bank's stock after acquiring an additional 39,549 shares during the period. Sequoia Financial Advisors LLC's holdings in Zions Bancorporation, National Association were worth $3,641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ZION. Crossmark Global Holdings Inc. increased its holdings in Zions Bancorporation, National Association by 85.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 14,659 shares of the bank's stock valued at $693,000 after acquiring an additional 6,769 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Zions Bancorporation, National Association by 209.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank's stock valued at $117,000 after acquiring an additional 1,671 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Zions Bancorporation, National Association in the 3rd quarter valued at $279,000. Aigen Investment Management LP bought a new stake in Zions Bancorporation, National Association in the 3rd quarter valued at $283,000. Finally, KBC Group NV increased its holdings in Zions Bancorporation, National Association by 25.6% in the 3rd quarter. KBC Group NV now owns 4,455 shares of the bank's stock valued at $210,000 after acquiring an additional 909 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 transaction, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the 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 owns 29,313 shares in the company, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,713 shares of company stock worth $1,839,686. Corporate insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Price Performance

Zions Bancorporation, National Association stock opened at $47.00 on Friday. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. The firm has a 50-day moving average of $55.13 and a two-hundred day moving average of $53.57.

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Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.08. The company had revenue of $820.00 million during 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 quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. On average, research analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has approved a share buyback plan on Monday, February 24th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.66%. Zions Bancorporation, National Association's dividend payout ratio is presently 34.75%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. DA Davidson lifted their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Compass Point lifted their price objective 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. Morgan Stanley dropped their price objective 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. Royal Bank of Canada lifted 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 note on Wednesday, January 22nd. Finally, UBS Group started 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 objective for the company. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $61.18.

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.

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