Rhumbline Advisers Sells 1,116 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Rhumbline Advisers decreased its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,337 shares of the bank’s stock after selling 1,116 shares during the period. Rhumbline Advisers’ holdings in Zions Bancorporation, National Association were worth $20,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after acquiring an additional 183 shares during the period. Covestor Ltd grew its position in shares of Zions Bancorporation, National Association by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after acquiring an additional 479 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after acquiring an additional 493 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at $62,000. Finally, Natixis bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at $102,000. Institutional investors own 76.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ZION shares. Royal Bank of Canada cut their price target on Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price target on Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen lowered Zions Bancorporation, National Association from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Morgan Stanley cut 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 research note on Thursday, March 13th. Finally, Robert W. Baird cut their price target on Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.94.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $49.28 on Friday. The firm has a 50 day simple moving average of $45.95 and a 200-day simple moving average of $51.91. Zions Bancorporation, National Association has a 1-year low of $39.32 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 stock has a market cap of $7.27 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm 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 quarter last year, the company posted $0.96 EPS. On average, analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its board has initiated a share buyback program on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.49%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 33.59%.

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.