Merit Financial Group LLC Buys New Shares in Zions Bancorporation, National Association (NASDAQ:ZION)

Merit Financial Group LLC bought a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,637 shares of the bank's stock, valued at approximately $780,000.

Several other large investors also recently bought and sold shares of ZION. EverSource Wealth Advisors LLC boosted its stake in shares of Zions Bancorporation, National Association by 51.1% in 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 during the period. Covestor Ltd raised its holdings in Zions Bancorporation, National Association by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank's stock valued at $46,000 after acquiring an additional 479 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in Zions Bancorporation, National Association by 120.8% in 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 last quarter. Millstone Evans Group LLC purchased a new position in Zions Bancorporation, National Association in the fourth quarter worth approximately $62,000. Finally, NBC Securities Inc. grew its holdings in Zions Bancorporation, National Association by 158,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,590 shares of the bank's stock worth $79,000 after acquiring an additional 1,589 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Stock Up 3.4%

Shares of NASDAQ:ZION opened at $49.28 on Monday. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $7.27 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.61 and a beta of 0.88. The firm has a fifty day moving average price of $45.95 and a 200 day moving average price of $51.82.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.96 earnings per share. Sell-side analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a stock buyback program on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.49%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 33.59%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZION. Stephens decreased their price objective on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Zions Bancorporation, National Association in a report on Wednesday, May 21st. They set an "underperform" rating and a $40.00 price target for the company. Robert W. Baird lowered their price objective 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. Keefe, Bruyette & Woods cut 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 research report on Tuesday, April 22nd. Finally, Morgan Stanley decreased their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Three research 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.com, the company currently has an average rating of "Hold" and a consensus price target of $57.94.

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.

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