Corient Private Wealth LLC Trims Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Corient Private Wealth LLC lessened its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,547 shares of the bank's stock after selling 21,314 shares during the period. Corient Private Wealth LLC owned 0.09% of Zions Bancorporation, National Association worth $7,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after acquiring an additional 183 shares during the period. CIBC Asset Management Inc lifted its stake in Zions Bancorporation, National Association by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock worth $245,000 after purchasing an additional 224 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 1.5% in the 4th quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank's stock valued at $937,000 after purchasing an additional 249 shares in the last quarter. Jackson Creek Investment Advisors LLC increased its stake in shares of Zions Bancorporation, National Association by 3.3% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank's stock valued at $490,000 after purchasing an additional 285 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Zions Bancorporation, National Association by 0.8% during the 4th quarter. Arizona State Retirement System now owns 42,839 shares of the bank's stock worth $2,324,000 after buying an additional 322 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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Zions Bancorporation, National Association Stock Up 0.4 %

Shares of Zions Bancorporation, National Association stock traded up $0.19 during trading on Tuesday, reaching $51.01. 1,950,586 shares of the company traded hands, compared to its average volume of 1,495,109. The firm has a market capitalization of $7.53 billion, a PE ratio of 10.31, a P/E/G ratio of 1.61 and a beta of 1.10. The company has a 50 day moving average price of $54.23 and a 200-day moving average price of $53.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22.

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

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

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid 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 yield of 3.37%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 34.75%.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction 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. This trade represents a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $557,100.00. Following the completion of the sale, the executive vice president now directly owns 45,847 shares of the company's stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,713 shares of company stock valued at $1,839,686. Corporate insiders own 2.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZION. Morgan Stanley decreased their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods increased their price objective on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, January 22nd. UBS Group initiated coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a "neutral" rating and a $64.00 target price on the stock. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price target for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and a consensus target price of $61.18.

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.