Zurcher Kantonalbank Zurich Cantonalbank Buys 4,007 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 12.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 37,062 shares of the bank’s stock after buying an additional 4,007 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zions Bancorporation, National Association were worth $2,011,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ZION. Sumitomo Mitsui Trust Group Inc. bought a new stake in Zions Bancorporation, National Association in the 3rd quarter worth about $279,000. KBC Group NV increased its holdings in Zions Bancorporation, National Association by 25.6% in the 3rd quarter. KBC Group NV now owns 4,455 shares of the bank’s stock worth $210,000 after buying an additional 909 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Zions Bancorporation, National Association in the 3rd quarter worth about $202,000. Cornercap Investment Counsel Inc. bought a new stake in Zions Bancorporation, National Association in the 3rd quarter worth about $510,000. Finally, Natixis Advisors LLC increased its holdings in Zions Bancorporation, National Association by 21.1% in the 3rd quarter. Natixis Advisors LLC now owns 427,047 shares of the bank’s stock worth $20,166,000 after buying an additional 74,344 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, National Association Stock Up 3.5 %

NASDAQ ZION opened at $48.63 on Monday. The stock’s 50 day moving average is $54.86 and its 200 day moving average is $53.58. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22. The stock 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 posted its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping 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 in the previous year, the firm earned $0.78 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. Research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its board has initiated a share buyback program on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a $0.43 dividend. 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 3.54%. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction that occurred 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 owns 29,313 shares of the company’s stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 that occurred 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 in the company, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on ZION shares. 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 report on Wednesday, January 22nd. 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. UBS Group started coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on 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 price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average target price of $61.18.

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.