Balyasny Asset Management L.P. Grows Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Balyasny Asset Management L.P. lifted its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 249.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,624,521 shares of the bank's stock after acquiring an additional 1,159,888 shares during the quarter. Balyasny Asset Management L.P. owned 1.10% of Zions Bancorporation, National Association worth $88,130,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in shares of Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock valued at $29,000 after buying an additional 183 shares in the last quarter. Covestor Ltd increased its holdings in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after acquiring an additional 479 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock worth $49,000 after acquiring an additional 493 shares during the period. Millstone Evans Group LLC purchased a new position in Zions Bancorporation, National Association during the fourth quarter valued at $62,000. Finally, Natixis acquired a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at about $102,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were 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 of the company's stock, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,029 shares of company stock worth $1,855,321. 2.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ZION shares. JPMorgan Chase & Co. decreased their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. DA Davidson raised their target price on 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. 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. Royal Bank of Canada decreased their price objective on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 22nd. Finally, Barclays lifted their target price on shares of 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $58.76.

Zions Bancorporation, National Association Trading Up 2.8 %

Shares of Zions Bancorporation, National Association stock opened at $46.61 on Monday. The stock has a 50 day moving average of $47.15 and a 200 day moving average of $53.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 9.42, a PEG 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 - Get Free Report) last released 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. 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 return on equity of 13.65% and a net margin of 15.70%. During the same period in the prior year, the business posted $0.96 EPS. As a group, research analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

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

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.69%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 33.59%.

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.

Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zions Bancorporation, National Association (NASDAQ:ZION - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.