Wealthfront Advisers LLC Buys Shares of 2,773 Zions Bancorporation, National Association (NASDAQ:ZION)

Wealthfront Advisers LLC bought a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,773 shares of the bank’s stock, valued at approximately $150,000.

Several other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Zions Bancorporation, National Association by 12.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,062 shares of the bank’s stock valued at $2,011,000 after buying an additional 4,007 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at $1,382,000. Jackson Creek Investment Advisors LLC raised its stake in shares of Zions Bancorporation, National Association by 3.3% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank’s stock valued at $490,000 after buying an additional 285 shares during the period. Inceptionr LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at $544,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at $7,739,000. 76.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 22nd. DA Davidson boosted their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price objective 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. JPMorgan Chase & Co. decreased their price objective on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Morgan Stanley decreased their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.18.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the 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 completion of the sale, the executive vice president now directly owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Price Performance

ZION opened at $48.88 on Tuesday. The stock has a 50-day moving average price of $54.74 and a 200-day moving average price of $53.58. Zions Bancorporation, National Association has a 12-month low of $39.05 and a 12-month high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $7.23 billion, a P/E ratio of 9.87, a PEG ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share (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 firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same period in the prior year, the business earned $0.78 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.52%. 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 of Directors has authorized a stock repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, National Association 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.