4,858 Shares in Zions Bancorporation, National Association (NASDAQ:ZION) Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC bought a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,858 shares of the bank’s stock, valued at approximately $264,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Zions Bancorporation, National Association in the fourth quarter worth about $73,542,000. Boston Partners purchased a new stake in shares of Zions Bancorporation, National Association in the 4th quarter worth approximately $33,961,000. First Trust Advisors LP boosted its stake in shares of Zions Bancorporation, National Association by 20.8% during the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank’s stock valued at $123,016,000 after purchasing an additional 390,601 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $1,032,775,000 after buying an additional 285,588 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Zions Bancorporation, National Association by 4.2% in the fourth 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 in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Trading Up 2.8 %

Zions Bancorporation, National Association stock opened at $46.61 on Friday. The stock has a 50-day moving average price of $47.15 and a 200 day moving average price of $53.13. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 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 announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same period in the previous year, the business posted $0.96 EPS. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share repurchase program on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.69%. Zions Bancorporation, National Association’s payout ratio is currently 33.59%.

Insider Activity

In other news, EVP Steven Dan Stephens sold 10,000 shares of the firm’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 transaction of $557,100.00. Following the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 33,029 shares of company stock valued at $1,855,321 in the last quarter. 1.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZION. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, January 7th. Robert W. Baird cut their target price on Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. DA Davidson increased their price target on shares of 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. Wells Fargo & Company cut their price objective on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Stephens decreased their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $58.76.

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.