Modern Wealth Management LLC Takes Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Modern Wealth Management LLC purchased a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, Holdings Channel reports. The firm purchased 4,348 shares of the bank’s stock, valued at approximately $244,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Zions Bancorporation, National Association by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock valued at $1,032,775,000 after buying an additional 285,588 shares during the last quarter. State Street Corp raised its stake in 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 valued at $332,515,000 after acquiring an additional 896,889 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 acquiring an additional 194,995 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Zions Bancorporation, National Association by 0.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank’s stock valued at $146,396,000 after purchasing an additional 14,070 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Zions Bancorporation, National Association by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock valued at $124,592,000 after purchasing an additional 30,030 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Analysts Set New Price Targets

ZION has been the subject of several recent research reports. Morgan Stanley decreased their price target on 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. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, January 7th. Stephens reaffirmed an “equal weight” rating and issued a $64.00 target price on shares of Zions Bancorporation, National Association in a report on Wednesday, March 5th. Barclays increased their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada lifted their price objective on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.94.

Zions Bancorporation, National Association Trading Down 1.6 %

Shares of ZION opened at $49.47 on Friday. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $53.66 and a 200-day simple moving average of $53.65. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $787.70 million. During the same quarter last year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.48%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Zions Bancorporation, National Association announced that its board has initiated a share buyback plan on Monday, February 24th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction dated 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 trade represents a 17.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,713 shares of company stock worth $1,839,686. Insiders own 2.22% of the company’s stock.

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.