Rockefeller Capital Management L.P. Sells 397 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Rockefeller Capital Management L.P. lessened its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 0.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 158,430 shares of the bank’s stock after selling 397 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Zions Bancorporation, National Association were worth $8,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after purchasing an additional 183 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Zions Bancorporation, National Association by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank’s stock worth $245,000 after buying an additional 224 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Zions Bancorporation, National Association by 1.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank’s stock valued at $937,000 after acquiring an additional 249 shares during the period. Jackson Creek Investment Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 3.3% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank’s stock valued at $490,000 after acquiring an additional 285 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Zions Bancorporation, National Association by 4.7% during the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank’s stock worth $364,000 after acquiring an additional 303 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Down 1.0 %

Shares of ZION opened at $43.36 on Thursday. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a 52 week low of $39.05 and a 52 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 fifty day moving average of $49.67 and a 200-day moving average of $53.39.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly 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 analyst estimates of $787.70 million. During the same period last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 34.75%.

Zions Bancorporation, National Association declared that its board has initiated a stock repurchase plan on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to buy 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 shares are undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on ZION. Wells Fargo & Company cut their price objective on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Barclays boosted their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. 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. Morgan Stanley reduced their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $64.00 price target on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average target price of $61.81.

Insider Activity

In other news, 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 value of $1,280,344.31. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the sale, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,029 shares of company stock valued at $1,855,321. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association 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.