Michels Family Financial LLC Takes $651,000 Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Michels Family Financial LLC purchased a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,993 shares of the bank's stock, valued at approximately $651,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $29,000 after buying an additional 183 shares in the last quarter. Covestor Ltd lifted its position in Zions Bancorporation, National Association by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock valued at $46,000 after acquiring an additional 479 shares during the period. SRS Capital Advisors Inc. boosted its stake 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 in the last quarter. Millstone Evans Group LLC purchased a new stake in Zions Bancorporation, National Association in the fourth quarter worth about $62,000. Finally, Natixis purchased a new stake in Zions Bancorporation, National Association in the fourth quarter worth about $102,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Stock Performance

ZION stock traded up $1.13 during trading on Tuesday, reaching $47.71. The stock had a trading volume of 935,411 shares, compared to its average volume of 1,577,658. The firm has a market cap of $7.04 billion, a PE ratio of 9.64, a PEG ratio of 1.61 and a beta of 0.88. 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 stock's 50 day moving average is $46.37 and its two-hundred day moving average is $52.55. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22.

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 (EPS) for the quarter, beating 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 business had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. During the same period last year, the firm posted $0.96 EPS. As a group, equities analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.61%. The ex-dividend date was 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 initiated a stock buyback program on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley dropped their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods dropped their target price on 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. Stephens cut their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Zions Bancorporation, National Association in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 price target for the company. Finally, Robert W. Baird dropped their price target on shares of 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. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $57.94.

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.