Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 22.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,223 shares of the bank's stock after selling 13,204 shares during the period. Bank of Montreal Can's holdings in Zions Bancorporation, National Association were worth $2,453,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp lifted its position in Zions Bancorporation, National Association by 2.2% during the third quarter. Stifel Financial Corp now owns 19,663 shares of the bank's stock valued at $928,000 after purchasing an additional 426 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Zions Bancorporation, National Association in the third quarter worth about $224,000. Geode Capital Management LLC lifted its position in shares of Zions Bancorporation, National Association by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank's stock valued at $124,592,000 after buying an additional 30,030 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $583,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $226,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Stock Performance

Shares of ZION traded up $0.92 during trading hours on Friday, reaching $44.28. 1,796,599 shares of the company traded hands, compared to its average volume of 1,577,210. The stock has a market capitalization of $6.53 billion, a P/E ratio of 8.95, a P/E/G ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $49.18 and a 200-day moving average price of $53.41. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22.

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

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a $0.43 dividend. 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 3.88%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 34.75%.

Zions Bancorporation, National Association declared that its board has approved a stock buyback plan on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

ZION has been the topic of several recent analyst reports. Stephens reissued an "equal weight" rating and set a $64.00 target price on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. Royal Bank of Canada lifted their price objective on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 22nd. DA Davidson upped their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Barclays raised 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 note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased 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 note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association presently has an average rating of "Hold" and a consensus price target of $61.81.

Insider Activity

In related news, EVP Steven Dan Stephens sold 10,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,280,344.31. Following the transaction, the executive vice president now directly owns 29,313 shares of the company's stock, 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 in the last ninety days. Company insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association 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.