Fiduciary Trust Co Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

Fiduciary Trust Co acquired a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,049 shares of the bank’s stock, valued at approximately $220,000.

Other large investors have also modified their holdings of the company. Deutsche Bank AG increased its stake in shares of Zions Bancorporation, National Association by 343.3% during the fourth quarter. Deutsche Bank AG now owns 275,575 shares of the bank’s stock worth $14,950,000 after acquiring an additional 213,405 shares during the period. Brevan Howard Capital Management LP lifted its holdings in Zions Bancorporation, National Association by 115.0% in the fourth quarter. Brevan Howard Capital Management LP now owns 46,657 shares of the bank’s stock valued at $2,531,000 after acquiring an additional 24,958 shares during the period. Captrust Financial Advisors boosted its position in shares of Zions Bancorporation, National Association by 0.7% during the 4th quarter. Captrust Financial Advisors now owns 148,453 shares of the bank’s stock worth $8,054,000 after purchasing an additional 1,083 shares in the last quarter. Baird Financial Group Inc. acquired a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth $380,000. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Zions Bancorporation, National Association by 249.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank’s stock valued at $88,130,000 after purchasing an additional 1,159,888 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Trading Up 6.3%

Shares of NASDAQ ZION opened at $49.46 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $46.43 and its two-hundred day moving average price is $52.96. Zions Bancorporation, National Association has a 52-week low of $39.32 and a 52-week high of $63.22. The stock has a market capitalization of $7.30 billion, a P/E ratio of 9.99, a PEG ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same period last year, the business posted $0.96 earnings per share. On average, analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a stock repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 33.59%.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the executive vice president now directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,989 shares of company stock valued at $1,853,080 in the last quarter. Insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ZION shares. Argus upgraded Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods cut their price objective on Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. DA Davidson raised their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Robert W. Baird reduced their price objective on Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Finally, Morgan Stanley decreased their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus price target of $58.76.

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.