Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,396,483 shares of the bank's stock after selling 192,954 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of Zions Bancorporation, National Association worth $75,759,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ieq Capital LLC raised its holdings in shares of Zions Bancorporation, National Association by 139.5% in the fourth quarter. Ieq Capital LLC now owns 52,592 shares of the bank's stock valued at $2,853,000 after acquiring an additional 30,635 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in Zions Bancorporation, National Association during the 4th quarter valued at about $1,710,000. Venturi Wealth Management LLC increased its position in Zions Bancorporation, National Association by 13.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,802 shares of the bank's stock valued at $152,000 after purchasing an additional 332 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Zions Bancorporation, National Association by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock valued at $245,000 after purchasing an additional 224 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 4th quarter worth approximately $2,538,000. 76.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Compass Point lifted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Barclays boosted their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a research report on Wednesday, January 22nd. DA Davidson upped their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a research note on Tuesday, January 7th. Finally, Stephens reissued an "equal weight" rating and set a $64.00 price target on shares of Zions Bancorporation, National Association in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $60.71.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock traded up $0.25 during mid-day trading on Wednesday, reaching $51.28. The stock had a trading volume of 1,842,446 shares, compared to its average volume of 1,320,289. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 1.61 and a beta of 1.11. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The business's fifty day moving average is $55.80 and its 200-day moving average is $53.55.

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. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787.70 million. During the same quarter in the prior year, the company earned $0.78 EPS. Zions Bancorporation, National Association's quarterly revenue was up 12.2% on a year-over-year basis. On average, research analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's payout ratio is 34.75%.

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

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the business'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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the sale, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,713 shares of company stock valued at $1,839,686. 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.