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 Zions Bancorporation, National Association (NASDAQ:ZION) by 12.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,396,483 shares of the bank’s stock after selling 192,954 shares during the period. Bank of New York Mellon Corp’s holdings in Zions Bancorporation, National Association were worth $75,759,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in ZION. International Assets Investment Management LLC lifted its stake in Zions Bancorporation, National Association by 4,621.0% in the third quarter. International Assets Investment Management LLC now owns 37,485 shares of the bank’s stock valued at $1,770,000 after buying an additional 36,691 shares during the last quarter. State of Alaska Department of Revenue raised its position in Zions Bancorporation, National Association by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,158 shares of the bank’s stock valued at $810,000 after purchasing an additional 1,160 shares during the last quarter. US Bancorp DE boosted its stake in Zions Bancorporation, National Association by 4.1% during the 3rd quarter. US Bancorp DE now owns 16,350 shares of the bank’s stock worth $772,000 after purchasing an additional 649 shares during the period. Chicago Partners Investment Group LLC grew its position in Zions Bancorporation, National Association by 10.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,909 shares of the bank’s stock worth $255,000 after purchasing an additional 450 shares during the last quarter. Finally, Easterly Investment Partners LLC increased its stake in Zions Bancorporation, National Association by 82.5% in the third quarter. Easterly Investment Partners LLC now owns 69,179 shares of the bank’s stock valued at $3,267,000 after purchasing an additional 31,265 shares during the period. 76.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ZION. DA Davidson increased their target price 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. Compass Point increased their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. 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. Barclays upped their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada lifted their price objective on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 22nd. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.71.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $52.96 on Tuesday. The business has a 50 day moving average price of $55.88 and a 200 day moving average price of $53.52. The company has a market capitalization of $7.83 billion, a P/E ratio of 10.70, a PEG ratio of 1.61 and a beta of 1.11. Zions Bancorporation, National Association has a 1-year low of $38.74 and a 1-year high of $63.22. 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 (NASDAQ:ZION) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share 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 business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same quarter last year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm 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. This represents a $1.72 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Zions Bancorporation, National Association announced that its board has initiated a stock repurchase program on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $557,100.00. Following the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,713 shares of company stock valued at $1,839,686 over the last quarter. Corporate insiders own 2.22% of the company’s stock.

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.