Comerica Bank Lowers Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Comerica Bank reduced its stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 9.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 91,875 shares of the bank's stock after selling 10,141 shares during the quarter. Comerica Bank owned 0.06% of Zions Bancorporation, National Association worth $4,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Zions Bancorporation, National Association by 13.6% in the third quarter. Franklin Resources Inc. now owns 203,567 shares of the bank's stock valued at $10,195,000 after purchasing an additional 24,414 shares in the last quarter. GAMMA Investing LLC grew its holdings in Zions Bancorporation, National Association by 4.4% during the 4th quarter. GAMMA Investing LLC now owns 9,514 shares of the bank's stock valued at $516,000 after buying an additional 403 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Zions Bancorporation, National Association by 6.3% during the fourth quarter. Nordea Investment Management AB now owns 225,840 shares of the bank's stock valued at $12,306,000 after buying an additional 13,329 shares during the period. Neville Rodie & Shaw Inc. purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth about $477,000. Finally, Global Financial Private Client LLC grew its stake in Zions Bancorporation, National Association by 1.3% during the fourth quarter. Global Financial Private Client LLC now owns 33,501 shares of the bank's stock valued at $1,817,000 after acquiring an additional 429 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Stock Down 0.4 %

NASDAQ:ZION traded down $0.21 on Friday, reaching $46.56. 959,393 shares of the stock traded hands, compared to its average volume of 1,581,401. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a 12 month low of $39.32 and a 12 month high of $63.22. The company's fifty day simple moving average is $46.46 and its 200 day simple moving average is $52.96.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced 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. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. During the same period in the previous year, the business earned $0.96 EPS. Equities analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Thursday, May 15th. Zions Bancorporation, National Association's payout ratio is currently 33.59%.

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

Analyst Ratings Changes

ZION has been the topic of several recent analyst reports. DA Davidson raised their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Morgan Stanley lowered their price objective on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods lowered their price target on shares of 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. Barclays increased their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada decreased their target price on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of "Hold" and an average price target of $58.76.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were 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 of the company's stock, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,029 shares of company stock valued at $1,855,321 over the last ninety days. Insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Company 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.