Canada Pension Plan Investment Board Lowers Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Canada Pension Plan Investment Board trimmed its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 89.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,100 shares of the bank's stock after selling 125,900 shares during the period. Canada Pension Plan Investment Board's holdings in Zions Bancorporation, National Association were worth $765,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Zions Bancorporation, National Association during the fourth quarter worth $73,542,000. Boston Partners bought a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth about $33,961,000. Vanguard Group Inc. grew its stake in shares of Zions Bancorporation, National Association by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock valued at $1,032,775,000 after buying an additional 285,588 shares during the period. Charles Schwab Investment Management Inc. increased its position in Zions Bancorporation, National Association by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock valued at $264,902,000 after buying an additional 194,995 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Zions Bancorporation, National Association during the 4th quarter worth approximately $7,739,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company'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 sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. 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 three months. 1.77% of the stock is currently owned by insiders.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock traded down $0.29 on Wednesday, reaching $44.97. 1,595,979 shares of the company traded hands, compared to its average volume of 1,574,583. The company has a 50 day moving average of $47.43 and a 200 day moving average of $53.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22. The firm has a market capitalization of $6.64 billion, a PE ratio of 9.08, a PEG ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) 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 business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same period last year, the business posted $0.96 earnings per share. Equities analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has authorized a share buyback 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 shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.82%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 33.59%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZION. Robert W. Baird lowered their target price 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. Keefe, Bruyette & Woods lowered their price objective on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Argus upgraded shares of Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a report on Monday. Wells Fargo & Company lowered their target price on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. One equities 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $58.76.

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.