Teacher Retirement System of Texas Has $2.46 Million Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Teacher Retirement System of Texas lifted its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,326 shares of the bank's stock after buying an additional 12,481 shares during the quarter. Teacher Retirement System of Texas' holdings in Zions Bancorporation, National Association were worth $2,459,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Zions Bancorporation, National Association by 14.6% during the third quarter. State Street Corp now owns 7,041,818 shares of the bank's stock worth $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Zions Bancorporation, National Association by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after buying an additional 194,995 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Zions Bancorporation, National Association by 0.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock worth $146,396,000 after buying an additional 14,070 shares in the last quarter. Geode Capital Management LLC boosted its position in Zions Bancorporation, National Association by 1.2% in 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 during the last quarter. Finally, Boston Partners acquired a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at about $33,961,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ZION shares. Royal Bank of Canada increased their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their target price on 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. DA Davidson lifted their price target on shares of 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. 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. Finally, Barclays boosted their target price on shares of 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. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of "Hold" and a consensus price target of $60.94.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION traded down $0.79 during midday trading on Friday, reaching $49.47. 1,478,901 shares of the company traded hands, compared to its average volume of 1,550,049. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The company has a fifty day moving average price of $53.66 and a 200 day moving average price of $53.77. 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 twelve month low of $39.05 and a twelve month high of $63.22.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $820.00 million for the quarter, compared to analysts' expectations of $787.70 million. During the same period last year, the business posted $0.78 earnings per share. The firm's quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its board has approved a share repurchase program on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding 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 a sign that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 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.