AQR Capital Management LLC Has $36.47 Million Position in Zions Bancorporation, National Association (NASDAQ:ZION)

AQR Capital Management LLC boosted its stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 34.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 672,245 shares of the bank's stock after buying an additional 171,800 shares during the period. AQR Capital Management LLC owned 0.46% of Zions Bancorporation, National Association worth $36,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZION. Virtu Financial LLC purchased a new stake in Zions Bancorporation, National Association during the third quarter valued at $583,000. Fisher Asset Management LLC acquired a new stake in Zions Bancorporation, National Association in the fourth quarter worth about $389,000. Strategic Financial Concepts LLC purchased a new stake in Zions Bancorporation, National Association during the 4th quarter valued at about $2,538,000. Polymer Capital Management US LLC acquired a new position in Zions Bancorporation, National Association during the fourth quarter valued at $229,000. Finally, SG Americas Securities LLC lifted its stake in shares of Zions Bancorporation, National Association by 244.8% in the 4th quarter. SG Americas Securities LLC now owns 28,405 shares of the bank's stock valued at $1,541,000 after purchasing an additional 20,167 shares during the period. Hedge funds and other institutional investors own 76.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on ZION. Royal Bank of Canada cut 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 report on Tuesday, April 22nd. Robert W. Baird dropped their price target 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. Morgan Stanley reduced their target price on shares of 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. Keefe, Bruyette & Woods dropped 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 report on Tuesday, April 22nd. Finally, Barclays boosted their target price on shares of 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. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $58.76.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. The trade was a 17.91 % 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 valued at $1,855,321 over the last quarter. Company insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock traded up $0.03 on Wednesday, hitting $45.42. 1,624,099 shares of the company traded hands, compared to its average volume of 1,580,856. The stock has a market capitalization of $6.70 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22. The business has a 50-day simple moving average of $46.85 and a 200 day simple moving average of $53.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate 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 business 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 EPS. Research analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 33.59%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

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.