Kettle Hill Capital Management LLC Takes Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Kettle Hill Capital Management LLC 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 Securities and Exchange Commission (SEC). The fund acquired 253,838 shares of the bank’s stock, valued at approximately $13,771,000. Zions Bancorporation, National Association accounts for about 3.0% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. 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 worth $29,000 after buying an additional 183 shares during the period. CIBC Asset Management Inc grew its holdings in 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 valued at $245,000 after purchasing an additional 224 shares during the period. Contravisory Investment Management Inc. increased its stake in 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 purchasing an additional 249 shares in the last quarter. Jackson Creek Investment Advisors LLC raised its holdings in 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 worth $490,000 after purchasing an additional 285 shares during the period. Finally, Blair William & Co. IL raised its holdings in Zions Bancorporation, National Association by 4.7% in the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank’s stock worth $364,000 after purchasing an additional 303 shares during the period. Institutional investors own 76.84% of the company’s stock.

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now 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 have sold a total of 33,029 shares of company stock worth $1,855,321 over the last ninety days. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Down 0.4 %

Zions Bancorporation, National Association stock opened at $46.56 on Friday. 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 company’s 50-day moving average is $46.46 and its 200-day moving average is $52.97. The firm has a market capitalization of $6.87 billion, a PE ratio of 9.41, a P/E/G ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results 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. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm had revenue of $795.00 million for the quarter, compared to the consensus estimate of $792.49 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its board has authorized a stock repurchase program on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are 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 given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.69%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 33.59%.

Analyst Upgrades and Downgrades

ZION has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on 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. Stephens cut their price objective on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Barclays increased their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Finally, DA Davidson upped 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 report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.