MetLife Investment Management LLC Acquires 6,928 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

MetLife Investment Management LLC lifted its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,211 shares of the bank's stock after purchasing an additional 6,928 shares during the period. MetLife Investment Management LLC owned 0.06% of Zions Bancorporation, National Association worth $4,514,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Zions Bancorporation, National Association by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock valued at $1,032,775,000 after purchasing an additional 285,588 shares during the period. Dimensional Fund Advisors LP grew its stake in Zions Bancorporation, National Association by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock worth $369,295,000 after buying an additional 175,656 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after acquiring an additional 194,995 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Zions Bancorporation, National Association by 0.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock worth $146,396,000 after acquiring an additional 14,070 shares during the last quarter. Finally, First Trust Advisors LP raised 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 during the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Trading Down 2.1 %

ZION stock traded down $0.94 during trading on Wednesday, reaching $44.33. 260,424 shares of the stock traded hands, compared to its average volume of 1,759,380. The business's 50 day moving average price is $47.59 and its 200-day moving average price is $53.25. Zions Bancorporation, National Association has a 52-week low of $39.32 and a 52-week 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 firm has a market capitalization of $6.54 billion, a PE ratio of 8.95, a P/E/G ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $795.00 million during the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.96 earnings per share. As a group, sell-side analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has approved a share repurchase plan on Monday, February 24th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.88%. Zions Bancorporation, National Association's payout ratio is 33.59%.

Insider Activity

In other news, EVP Steven Dan Stephens sold 10,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now directly owns 29,313 shares of the company's stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,029 shares of company stock worth $1,855,321. 1.77% of the stock is currently owned by insiders.

Analyst Ratings Changes

ZION has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Barclays boosted their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods decreased their target price 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. Robert W. Baird decreased their target price on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Stephens cut 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. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Zions Bancorporation, National Association presently has an average rating of "Hold" and a consensus target price of $58.76.

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.