Empirical Finance LLC bought a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,939 shares of the bank’s stock, valued at approximately $200,000.
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Other large investors have also modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Zions Bancorporation, National Association by 0.8% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 38,265 shares of the bank’s stock valued at $1,948,000 after buying an additional 315 shares during the period. Federated Hermes Inc. boosted its position in shares of Zions Bancorporation, National Association by 2.9% during the second quarter. Federated Hermes Inc. now owns 55,138 shares of the bank’s stock valued at $2,806,000 after buying an additional 1,553 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Zions Bancorporation, National Association in the third quarter valued at approximately $256,000. Rhumbline Advisers boosted its holdings in shares of Zions Bancorporation, National Association by 4.9% in the second quarter. Rhumbline Advisers now owns 348,079 shares of the bank’s stock valued at $17,717,000 after purchasing an additional 16,355 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Zions Bancorporation, National Association by 135.5% in the second quarter. Nordea Investment Management AB now owns 72,611 shares of the bank’s stock valued at $3,636,000 after purchasing an additional 41,783 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.
Zions Bancorporation, National Association Price Performance
NASDAQ ZION opened at $53.37 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.73 and a quick ratio of 0.72. The stock’s fifty day moving average price is $49.73 and its 200 day moving average price is $52.23. Zions Bancorporation, National Association has a 1 year low of $45.21 and a 1 year high of $75.44. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.33 and a beta of 1.15.
Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last released its earnings results on Monday, January 23rd. The bank reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.18. Zions Bancorporation, National Association had a return on equity of 18.36% and a net margin of 27.18%. The firm had revenue of $988.00 million for the quarter, compared to the consensus estimate of $873.05 million. During the same period in the prior year, the firm earned $1.34 EPS. As a group, equities research analysts forecast that Zions Bancorporation, National Association will post 6.47 earnings per share for the current year.
Zions Bancorporation, National Association announced that its board has approved a stock repurchase plan on Friday, October 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Zions Bancorporation, National Association Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 23rd. Investors of record on Thursday, February 16th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.07%. Zions Bancorporation, National Association’s payout ratio is 28.28%.
Insider Activity at Zions Bancorporation, National Association
In related news, VP Bruce K. Alexander sold 2,378 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $52.05, for a total value of $123,774.90. Following the transaction, the vice president now directly owns 15,172 shares of the company’s stock, valued at approximately $789,702.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 14,774 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $49.82, for a total value of $736,040.68. Following the sale, the vice president now directly owns 14,530 shares of the company’s stock, valued at $723,884.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Bruce K. Alexander sold 2,378 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $52.05, for a total transaction of $123,774.90. Following the completion of the sale, the vice president now directly owns 15,172 shares in the company, valued at $789,702.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,032 shares of company stock valued at $905,391 in the last ninety days. Company insiders own 1.81% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently issued reports on ZION shares. Compass Point lowered their price target on Zions Bancorporation, National Association to $60.00 in a report on Thursday, October 20th. JPMorgan Chase & Co. lowered Zions Bancorporation, National Association from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $49.00 to $46.00 in a report on Wednesday. StockNews.com started coverage on Zions Bancorporation, National Association in a report on Wednesday, October 12th. They issued a “hold” rating for the company. DA Davidson upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $56.00 price target for the company in a report on Tuesday, December 20th. They noted that the move was a valuation call. Finally, Barclays lowered Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $68.00 to $59.00 in a report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average target price of $59.92.
Zions Bancorporation, National Association Profile
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Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.
See Also
Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating).
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