Kettle Hill Capital Management LLC Invests $13.77 Million in Zions Bancorporation, National Association (NASDAQ:ZION)

Kettle Hill Capital Management LLC acquired 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 filing with the Securities & Exchange Commission. The firm acquired 253,838 shares of the bank's stock, valued at approximately $13,771,000. Zions Bancorporation, National Association accounts for about 3.0% of Kettle Hill Capital Management LLC's investment portfolio, making the stock its 14th largest position. Kettle Hill Capital Management LLC owned approximately 0.17% of Zions Bancorporation, National Association as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Fiduciary Trust Co acquired a new position in Zions Bancorporation, National Association in the fourth quarter worth $220,000. Deutsche Bank AG lifted its position in Zions Bancorporation, National Association by 343.3% in the 4th quarter. Deutsche Bank AG now owns 275,575 shares of the bank's stock valued at $14,950,000 after purchasing an additional 213,405 shares during the last quarter. Brevan Howard Capital Management LP boosted its stake in Zions Bancorporation, National Association by 115.0% during the 4th quarter. Brevan Howard Capital Management LP now owns 46,657 shares of the bank's stock valued at $2,531,000 after purchasing an additional 24,958 shares during the period. Captrust Financial Advisors grew its position in Zions Bancorporation, National Association by 0.7% in the 4th quarter. Captrust Financial Advisors now owns 148,453 shares of the bank's stock worth $8,054,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at approximately $380,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Stock Performance

Shares of ZION traded down $0.27 on Wednesday, reaching $49.65. 82,798 shares of the stock traded hands, compared to its average volume of 1,581,709. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 10.02, a P/E/G 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 stock's 50-day moving average price is $46.42 and its 200-day moving average price is $52.94. 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 (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $792.49 million. During the same quarter in the previous year, the company earned $0.96 EPS. Equities analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

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

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 33.59%.

Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business'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 completion of the transaction, the executive vice president now directly owns 29,313 shares of the company's stock, valued at approximately $1,655,305.11. The trade was a 43.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZION. Truist Financial began coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday. They set a "hold" rating and a $52.00 target price on the stock. Morgan Stanley decreased their price target 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. Royal Bank of Canada dropped their price target 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 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 report on Monday, April 28th. Finally, Wells Fargo & Company cut their price objective on 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. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $58.47.

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.