Tower Research Capital LLC TRC Purchases 7,473 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Tower Research Capital LLC TRC raised its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 72.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,854 shares of the bank's stock after buying an additional 7,473 shares during the period. Tower Research Capital LLC TRC's holdings in Zions Bancorporation, National Association were worth $969,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZION. Vanguard Group Inc. lifted its position in Zions Bancorporation, National Association by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after acquiring an additional 285,588 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Zions Bancorporation, National Association by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock worth $369,295,000 after purchasing an additional 175,656 shares during the period. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 194,995 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Zions Bancorporation, National Association by 0.5% during 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 purchasing an additional 14,070 shares during the period. Finally, First Trust Advisors LP grew its holdings in Zions Bancorporation, National Association by 20.8% in the 4th quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock valued at $123,016,000 after buying an additional 390,601 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. DA Davidson upped their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Stephens decreased their price objective on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada cut their target price on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. Barclays raised their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $58.76.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction 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 of the company's stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 33,029 shares of company stock worth $1,855,321 over the last ninety days. Company insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Price Performance

ZION traded up $0.32 during midday trading on Tuesday, hitting $45.26. The company had a trading volume of 1,486,920 shares, compared to its average volume of 1,572,699. Zions Bancorporation, National Association has a twelve month low of $39.32 and a twelve month high of $63.22. The firm's 50-day simple moving average is $47.79 and its 200-day simple moving average is $53.30. The company has a market capitalization of $6.68 billion, a PE 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 quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $795.00 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.96 earnings per share. Equities 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 initiated 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 buy up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.43 per share. 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 dividend payout ratio is 33.59%.

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.