Legacy Capital Group California Inc. Purchases New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Legacy Capital Group California Inc. purchased a new stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,151 shares of the bank's stock, valued at approximately $1,147,000.

A number of other large investors have also recently modified their holdings of ZION. Federated Hermes Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 105.4% in the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank's stock valued at $28,000 after purchasing an additional 331 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Zions Bancorporation, National Association by 4,613.3% in the fourth quarter. Versant Capital Management Inc now owns 2,121 shares of the bank's stock valued at $93,000 after purchasing an additional 2,076 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 15.5% in the third quarter. Daiwa Securities Group Inc. now owns 3,497 shares of the bank's stock valued at $122,000 after purchasing an additional 469 shares during the period. EMC Capital Management purchased a new stake in shares of Zions Bancorporation, National Association in the third quarter valued at approximately $126,000. Finally, Principal Securities Inc. purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at approximately $126,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Evercore ISI upped their target price on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, March 28th. Wedbush lowered their target price on Zions Bancorporation, National Association from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Tuesday, January 23rd. Stephens upped their target price on Zions Bancorporation, National Association from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 23rd. Robert W. Baird lowered their target price on Zions Bancorporation, National Association from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, January 23rd. Finally, UBS Group lowered their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and a consensus target price of $43.16.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Rebecca K. Robinson sold 5,291 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the sale, the executive vice president now directly owns 22,238 shares of the company's stock, valued at approximately $970,911.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Rebecca K. Robinson sold 5,291 shares of the firm's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the transaction, the executive vice president now directly owns 22,238 shares of the company's stock, valued at approximately $970,911.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan M. Forney sold 1,500 shares of the firm's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the completion of the transaction, the chief executive officer now directly owns 22,181 shares in the company, valued at $968,866.08. The disclosure for this sale can be found here. Insiders have sold a total of 20,246 shares of company stock valued at $843,705 in the last ninety days. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Stock Performance

ZION traded down $0.36 during midday trading on Thursday, hitting $44.74. 1,193,427 shares of the company were exchanged, compared to its average volume of 2,767,635. The company's 50 day simple moving average is $41.88 and its 200 day simple moving average is $40.35. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 11.29 and a beta of 1.13. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.01. Zions Bancorporation, National Association has a 1-year low of $24.22 and a 1-year high of $46.15.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The bank reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $747.21 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. During the same period in the prior year, the business posted $1.33 earnings per share. As a group, sell-side analysts predict that Zions Bancorporation, National Association will post 4.38 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, May 15th. Zions Bancorporation, National Association's payout ratio is currently 41.21%.

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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