Y Intercept Hong Kong Ltd Cuts Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Y Intercept Hong Kong Ltd reduced its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 42.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,150 shares of the bank's stock after selling 9,749 shares during the period. Y Intercept Hong Kong Ltd's holdings in Zions Bancorporation, National Association were worth $713,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ZION. State Street Corp grew its holdings in Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank's stock valued at $332,515,000 after buying an additional 896,889 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank's stock worth $126,762,000 after acquiring an additional 538,049 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter valued at $24,647,000. Charles Schwab Investment Management Inc. grew its position in Zions Bancorporation, National Association by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank's stock valued at $221,367,000 after acquiring an additional 140,084 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $4,189,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the sale, the executive vice president now owns 45,847 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 29,313 shares of the company's stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ZION has been the topic of several recent research reports. Keefe, Bruyette & Woods raised 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. Stephens increased their price target on Zions Bancorporation, National Association from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, November 15th. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price target for the company in a report on Tuesday, January 7th. Finally, UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a "neutral" rating and a $64.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $60.71.

Zions Bancorporation, National Association Price Performance

ZION stock traded down $1.29 during mid-day trading on Tuesday, reaching $51.67. 1,185,093 shares of the company traded hands, compared to its average volume of 1,281,884. Zions Bancorporation, National Association has a 52-week low of $38.74 and a 52-week high of $63.22. The company has a market capitalization of $7.64 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company has a fifty day moving average price of $55.88 and a 200-day moving average price of $53.52.

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

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

Zions Bancorporation, National Association Announces Dividend

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. 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 3.33%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 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.