Trust Investment Advisors Acquires New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Trust Investment Advisors purchased a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 3,901 shares of the bank’s stock, valued at approximately $212,000.

Other large investors also recently made changes to their positions in the company. State Street Corp lifted its position in Zions Bancorporation, National Association by 14.6% during 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 during the period. Boston Partners purchased a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth about $33,961,000. Wellington Management Group LLP acquired a new stake in shares of Zions Bancorporation, National Association in the third quarter worth approximately $24,647,000. Vanguard Group Inc. increased its position in Zions Bancorporation, National Association by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock worth $1,032,775,000 after purchasing an additional 285,588 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Zions Bancorporation, National Association by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock worth $264,902,000 after buying an additional 194,995 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $51.01 on Wednesday. The stock has a market cap of $7.53 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.61 and a beta of 1.10. The firm’s 50-day simple moving average is $54.12 and its 200 day simple moving average is $53.67. 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 quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate 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 was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. Equities analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Zions Bancorporation, National Association declared that its board has authorized a share buyback plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on ZION shares. DA Davidson boosted their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised 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 research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of 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. Royal Bank of Canada boosted their price objective on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 22nd. Finally, UBS Group started coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price for the company. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.18.

Insider Activity

In other Zions Bancorporation, National Association 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 transaction, the executive vice president now owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm’s 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 sale, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is owned by company insiders.

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.