Pinebridge Investments L.P. Raises Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Pinebridge Investments L.P. lifted its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,114 shares of the bank's stock after acquiring an additional 15,889 shares during the period. Pinebridge Investments L.P.'s holdings in Zions Bancorporation, National Association were worth $2,881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after purchasing an additional 183 shares during the period. Covestor Ltd boosted its position in shares of Zions Bancorporation, National Association by 128.1% during the fourth quarter. Covestor Ltd now owns 853 shares of the bank's stock valued at $46,000 after buying an additional 479 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock valued at $49,000 after buying an additional 493 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth approximately $62,000. Finally, Natixis bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on ZION shares. DA Davidson upped their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a report on Tuesday, January 7th. Barclays lifted their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their target price on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, Robert W. Baird reduced their target price on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $58.76.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the sale, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 29,313 shares of the company's stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,029 shares of company stock valued at $1,855,321 in the last three months. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Stock Up 0.7 %

Shares of NASDAQ ZION traded up $0.32 during trading hours on Tuesday, hitting $45.26. 1,486,920 shares of the stock were exchanged, compared to its average volume of 1,573,918. The company has a market cap of $6.68 billion, a PE ratio of 9.14, a PEG ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a 12 month low of $39.32 and a 12 month high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $47.59 and a 200-day moving average price of $53.25.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. During the same quarter last year, the firm earned $0.96 EPS. On average, sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's payout ratio is currently 33.59%.

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

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.