Vanguard Group Inc. Acquires 285,588 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Vanguard Group Inc. raised its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,037,323 shares of the bank's stock after buying an additional 285,588 shares during the period. Vanguard Group Inc. owned 12.89% of Zions Bancorporation, National Association worth $1,032,775,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ZION. EverSource Wealth Advisors LLC grew its holdings in shares of Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock valued at $29,000 after acquiring an additional 183 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Zions Bancorporation, National Association by 120.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock worth $49,000 after purchasing an additional 493 shares during the last quarter. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association in the 4th quarter valued at $62,000. Whipplewood Advisors LLC purchased a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at $115,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Zions Bancorporation, National Association by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank's stock valued at $122,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

ZION has been the subject of several research reports. DA Davidson increased 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 research report on Wednesday, January 22nd. Barclays boosted 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. 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 for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a research note on Tuesday, January 7th. Finally, Compass Point increased their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $60.94.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock traded up $0.52 during trading on Wednesday, hitting $50.00. The stock had a trading volume of 174,765 shares, compared to its average volume of 1,540,544. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22. The business's 50-day moving average is $53.30 and its 200 day moving average is $53.82. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced 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. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company's quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.44%. Zions Bancorporation, National Association's payout ratio is presently 34.75%.

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

Insiders Place Their Bets

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. Insiders sold a total of 32,713 shares of company stock valued at $1,839,686 in the last quarter. Corporate insiders own 2.22% of the company's stock.

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.