EMC Capital Management Raises Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

EMC Capital Management grew its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 333.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,250 shares of the bank’s stock after acquiring an additional 7,886 shares during the period. EMC Capital Management’s holdings in Zions Bancorporation, National Association were worth $556,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in Zions Bancorporation, National Association in the 3rd quarter worth approximately $583,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Zions Bancorporation, National Association during the third quarter valued at approximately $510,000. Sequoia Financial Advisors LLC raised its position in shares of Zions Bancorporation, National Association by 1.9% during the third quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock valued at $1,302,000 after buying an additional 506 shares during the last quarter. State Street Corp lifted its holdings in shares of Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after buying an additional 896,889 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Zions Bancorporation, National Association by 14.2% during the third quarter. Los Angeles Capital Management LLC now owns 351,148 shares of the bank’s stock worth $16,581,000 after acquiring an additional 43,720 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ:ZION opened at $58.27 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 3.10 and a beta of 1.12. The firm’s 50-day moving average is $57.09 and its 200 day moving average is $52.36.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $787.70 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Research analysts predict that Zions Bancorporation, National Association will post 4.96 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.43 dividend. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 2.95%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,496 shares of company stock worth $873,762. 2.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ZION has been the topic of a number of research reports. Compass Point lifted 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 report on Tuesday, December 10th. Truist Financial lifted their target price on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company increased their target price on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.71.

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.