Amundi Sells 172,412 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Amundi cut its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 69.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,048 shares of the bank’s stock after selling 172,412 shares during the quarter. Amundi’s holdings in Zions Bancorporation, National Association were worth $4,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake 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 valued at $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Zions Bancorporation, National Association by 25.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after buying an additional 538,049 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Zions Bancorporation, National Association during the 3rd quarter worth approximately $24,647,000. Charles Schwab Investment Management Inc. grew its holdings in Zions Bancorporation, National Association by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock worth $264,902,000 after acquiring an additional 194,995 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Zions Bancorporation, National Association in the 4th quarter valued at approximately $7,739,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction on 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the transaction, 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 three months, insiders have sold 32,713 shares of company stock valued at $1,839,686. Corporate insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZION. Compass Point boosted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group raised 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. DA Davidson lifted 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. Stephens reissued an “equal weight” rating and set a $64.00 target price on shares of Zions Bancorporation, National Association in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus target price of $61.18.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $48.63 on Monday. The stock has a 50-day moving average of $54.86 and a 200-day moving average of $53.58. Zions Bancorporation, National Association has a one year low of $39.05 and a one 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. The company has a market cap of $7.19 billion, a PE ratio of 9.82, a P/E/G ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, beating 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 firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association declared that its board has authorized a share repurchase plan on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.54%. Zions Bancorporation, National Association’s payout ratio is 34.75%.

About Zions Bancorporation, National Association

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.