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

Michels Family Financial LLC bought a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,993 shares of the bank's stock, valued at approximately $651,000.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at about $73,542,000. Balyasny Asset Management L.P. grew its holdings in Zions Bancorporation, National Association by 249.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after buying an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in Zions Bancorporation, National Association during the 4th quarter valued at approximately $51,116,000. Boston Partners purchased a new stake in Zions Bancorporation, National Association during the 4th quarter valued at approximately $33,961,000. Finally, First Trust Advisors LP grew its holdings in Zions Bancorporation, National Association by 20.8% during the 4th quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock valued at $123,016,000 after buying an additional 390,601 shares in the last quarter. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Trading Up 0.8%

NASDAQ:ZION traded up $0.36 on Thursday, hitting $47.29. 591,750 shares of the stock were exchanged, compared to its average volume of 1,702,280. The stock has a market cap of $6.98 billion, a PE ratio of 9.55, 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 has a fifty day moving average of $46.28 and a 200-day moving average of $52.48. 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 posted its earnings results 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 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 analyst estimates of $792.49 million. During the same quarter last year, the firm earned $0.96 earnings per share. As a group, equities analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

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

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio is presently 33.59%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZION. Robert W. Baird lowered their price target on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Argus upgraded Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Monday, April 28th. Wells Fargo & Company lowered their price target on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Stephens decreased their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada decreased their target price on 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. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $57.94.

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.