Wedge Capital Management L L P NC Sells 127,519 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Wedge Capital Management L L P NC cut its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 675,944 shares of the bank's stock after selling 127,519 shares during the quarter. Wedge Capital Management L L P NC owned about 0.46% of Zions Bancorporation, National Association worth $36,670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in Zions Bancorporation, National Association in the third quarter worth $28,000. Abich Financial Wealth Management LLC raised its holdings in Zions Bancorporation, National Association by 26.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank's stock worth $61,000 after purchasing an additional 296 shares during the period. Acadian Asset Management LLC acquired a new stake in Zions Bancorporation, National Association in the second quarter worth $101,000. Venturi Wealth Management LLC raised its holdings in Zions Bancorporation, National Association by 209.1% in the third quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank's stock worth $117,000 after purchasing an additional 1,671 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Zions Bancorporation, National Association in the third quarter worth $119,000. 76.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the sale, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. The trade was a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $209,306.30. Following the completion of the sale, the executive vice president now owns 24,714 shares of the company's stock, valued at $1,434,894.84. This trade represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock worth $1,108,184 in the last quarter. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock traded up $0.76 during midday trading on Friday, hitting $58.04. 1,200,633 shares of the company were exchanged, compared to its average volume of 1,173,647. The firm has a market capitalization of $8.57 billion, a P/E ratio of 13.22, a PEG ratio of 2.86 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The firm's 50 day moving average price is $57.30 and its two-hundred day moving average price is $51.55. Zions Bancorporation, National Association has a 52 week low of $37.76 and a 52 week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same quarter in the previous year, the firm posted $1.13 EPS. As a group, equities research analysts anticipate that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.43 per share. This is an increase from Zions Bancorporation, National Association's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.96%. Zions Bancorporation, National Association's payout ratio is presently 39.18%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZION. JPMorgan Chase & Co. cut their target price on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada raised their price objective on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 22nd. Compass Point raised 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 report on Tuesday, December 10th. Morgan Stanley raised their price objective on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird raised their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $58.25.

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.