Natixis Advisors LLC Grows Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Natixis Advisors LLC raised its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 439,971 shares of the bank’s stock after purchasing an additional 12,924 shares during the quarter. Natixis Advisors LLC owned 0.30% of Zions Bancorporation, National Association worth $23,868,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ZION. EverSource Wealth Advisors LLC boosted its stake in shares of Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after acquiring an additional 183 shares during the period. CIBC Asset Management Inc grew its holdings in Zions Bancorporation, National Association by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank’s stock valued at $245,000 after buying an additional 224 shares in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Zions Bancorporation, National Association by 1.5% during the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank’s stock valued at $937,000 after buying an additional 249 shares during the last quarter. Jackson Creek Investment Advisors LLC raised its position in shares of Zions Bancorporation, National Association by 3.3% during 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 last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Zions Bancorporation, National Association by 0.8% in the fourth quarter. Arizona State Retirement System now owns 42,839 shares of the bank’s stock worth $2,324,000 after buying an additional 322 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, National Association Price Performance

ZION opened at $48.88 on Tuesday. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.61 and a beta of 1.10. 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’s 50-day moving average price is $54.74 and its 200 day moving average price is $53.58. Zions Bancorporation, National Association has a 12-month low of $39.05 and a 12-month high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The business 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 company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. As a group, sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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. Stockholders of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. DA Davidson raised their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Stephens restated an “equal weight” rating and set a $64.00 price target on shares of Zions Bancorporation, National Association in a report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. Morgan Stanley cut their target price on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, 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 note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.18.

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.