Millstone Evans Group LLC Purchases New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Millstone Evans Group LLC acquired a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,140 shares of the bank’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after buying an additional 183 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after acquiring an additional 493 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Zions Bancorporation, National Association in the 4th quarter worth about $115,000. Brooklyn Investment Group acquired a new position in Zions Bancorporation, National Association in the 3rd quarter worth about $119,000. Finally, Smartleaf Asset Management LLC raised its position in Zions Bancorporation, National Association by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock valued at $122,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the subject of several recent research reports. UBS Group started coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price objective for the company. Compass Point upped their price target on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Stephens reaffirmed an “equal weight” rating and set a $64.00 price target on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. Morgan Stanley reduced their price objective on shares of 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. Finally, Keefe, Bruyette & Woods increased their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and a consensus price target of $61.18.

Zions Bancorporation, National Association Trading Down 0.3 %

Shares of ZION stock opened at $49.51 on Monday. Zions Bancorporation, National Association has a fifty-two week low of $39.05 and a fifty-two week high of $63.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day simple moving average of $54.30 and a two-hundred day simple moving average of $53.59. The company has a market cap of $7.32 billion, a P/E ratio of 10.00, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.08. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. Research analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.47%. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction 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 represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $1,280,344.31. Following the completion of the transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $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. Insiders have sold 32,713 shares of company stock valued at $1,839,686 in the last 90 days. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Company 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.