Russell Investments Group Ltd. Reduces Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Russell Investments Group Ltd. trimmed its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,640 shares of the bank’s stock after selling 6,936 shares during the period. Russell Investments Group Ltd.’s holdings in Zions Bancorporation, National Association were worth $3,453,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter worth approximately $583,000. Fisher Asset Management LLC acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at about $389,000. Strategic Financial Concepts LLC purchased a new position in shares of Zions Bancorporation, National Association in the fourth quarter worth $2,538,000. SG Americas Securities LLC lifted its position in Zions Bancorporation, National Association by 244.8% during the 4th quarter. SG Americas Securities LLC now owns 28,405 shares of the bank’s stock worth $1,541,000 after acquiring an additional 20,167 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth about $4,237,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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 completion of the sale, the executive vice president now 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 filing with the SEC, which is available through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction that occurred on 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 owns 45,847 shares in the company, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,029 shares of company stock worth $1,855,321. 2.22% of the stock is owned by company insiders.

Zions Bancorporation, National Association Stock Down 1.0 %

Shares of NASDAQ ZION opened at $43.36 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. The stock’s 50-day simple moving average is $49.67 and its 200-day simple moving average is $53.39. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $787.70 million. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

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

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed 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 dividend yield of 3.97%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

Analyst Ratings Changes

A number of brokerages have recently commented on ZION. Stephens reaffirmed an “equal weight” rating and set a $64.00 price objective on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. Morgan Stanley cut their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods raised their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. Barclays upped their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.81.

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.