King Luther Capital Management Corp Cuts Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

King Luther Capital Management Corp reduced its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 29.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,015 shares of the bank's stock after selling 77,673 shares during the quarter. King Luther Capital Management Corp owned 0.13% of Zions Bancorporation, National Association worth $8,160,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. New Mexico Educational Retirement Board grew its holdings in shares of Zions Bancorporation, National Association by 5.5% during the third quarter. New Mexico Educational Retirement Board now owns 7,672 shares of the bank's stock worth $268,000 after buying an additional 400 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Zions Bancorporation, National Association by 15.5% during the third quarter. Daiwa Securities Group Inc. now owns 3,497 shares of the bank's stock worth $122,000 after buying an additional 469 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Zions Bancorporation, National Association by 19.9% during the third quarter. Nisa Investment Advisors LLC now owns 63,667 shares of the bank's stock worth $2,221,000 after buying an additional 10,582 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Zions Bancorporation, National Association during the third quarter worth about $491,000. Finally, Ieq Capital LLC grew its holdings in shares of Zions Bancorporation, National Association by 74.7% during the third quarter. Ieq Capital LLC now owns 15,124 shares of the bank's stock worth $528,000 after buying an additional 6,466 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ZION shares. Stephens increased their price target on Zions Bancorporation, National Association from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. increased their price target on Zions Bancorporation, National Association from $49.50 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, April 4th. Wedbush reduced their price target on Zions Bancorporation, National Association from $48.00 to $46.00 and set a "neutral" rating for the company in a research report on Tuesday, January 23rd. Morgan Stanley increased their price target on Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an "underweight" rating in a research report on Wednesday, February 7th. Finally, UBS Group reduced their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $43.16.

Zions Bancorporation, National Association Price Performance

Shares of ZION traded down $0.25 during midday trading on Wednesday, hitting $43.79. The company's stock had a trading volume of 1,030,523 shares, compared to its average volume of 2,703,557. Zions Bancorporation, National Association has a one year low of $26.35 and a one year high of $46.15. The company's fifty day simple moving average is $42.16 and its two-hundred day simple moving average is $40.78. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 11.00 and a beta of 1.13.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data 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). Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $747.21 million. During the same period last year, the business earned $1.33 EPS. As a group, equities analysts expect that Zions Bancorporation, National Association will post 4.37 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Wednesday, May 15th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 41.21%.

Insiders Place Their Bets

In related news, CEO Harris H. Simmons bought 4,000 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were purchased at an average cost of $38.54 per share, with a total value of $154,160.00. Following the acquisition, the chief executive officer now owns 1,312,987 shares of the company's stock, valued at $50,602,518.98. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, VP Mark Richard Young sold 5,597 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.21, for a total value of $225,055.37. Following the transaction, the vice president now directly owns 12,133 shares of the company's stock, valued at approximately $487,867.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harris H. Simmons acquired 4,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,312,987 shares in the company, valued at $50,602,518.98. The disclosure for this purchase can be found here. In the last three months, insiders have sold 12,893 shares of company stock valued at $544,248. 2.22% of the stock is currently owned by company insiders.

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.