Ieq Capital LLC Raises Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Ieq Capital LLC increased its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 139.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,592 shares of the bank’s stock after purchasing an additional 30,635 shares during the period. Ieq Capital LLC’s holdings in Zions Bancorporation, National Association were worth $2,853,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after purchasing an additional 896,889 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Zions Bancorporation, National Association by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock worth $221,367,000 after buying an additional 140,084 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Zions Bancorporation, National Association by 0.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank’s stock worth $146,396,000 after buying an additional 14,070 shares in the last quarter. Geode Capital Management LLC grew its position in Zions Bancorporation, National Association by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock worth $124,592,000 after buying an additional 30,030 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Zions Bancorporation, National Association in the third quarter valued at about $24,647,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Analysts Set New Price Targets

ZION has been the topic of several research analyst reports. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on 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. Keefe, Bruyette & Woods raised 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 report on Wednesday, January 22nd. DA Davidson boosted their price objective on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, sixteen have issued 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 currently has a consensus rating of “Hold” and a consensus target price of $60.71.

Insider Buying and Selling

In related news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association 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 transaction, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total value of $580,436.36. Following the sale, the executive vice president now owns 86,232 shares of the company’s stock, valued at $5,265,325.92. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,219 shares of company stock valued at $2,420,122. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Trading Down 3.1 %

Shares of Zions Bancorporation, National Association stock opened at $53.42 on Friday. The firm has a market cap of $7.89 billion, a PE ratio of 10.79, a P/E/G ratio of 1.61 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a fifty-two week low of $38.01 and a fifty-two week high of $63.22. The business’s fifty day moving average is $56.03 and its two-hundred day moving average is $53.15.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results 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. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. Analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced 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 was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.22%. 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.