Rafferty Asset Management LLC Has $14.94 Million Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Rafferty Asset Management LLC lowered its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 28.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 275,384 shares of the bank's stock after selling 108,408 shares during the quarter. Rafferty Asset Management LLC owned 0.19% of Zions Bancorporation, National Association worth $14,940,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

ZION has been the topic of several recent research reports. Argus raised Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Barclays lifted their price objective on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a report on Wednesday, January 22nd. Stephens decreased their price objective on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their target price on Zions Bancorporation, National Association from $58.00 to $47.00 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $58.47.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value 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 approximately $1,655,305.11. This trade represents a 43.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Trading Down 1.0%

Shares of ZION opened at $49.06 on Friday. The stock has a fifty day moving average price of $46.44 and a two-hundred day moving average price of $52.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a 52-week low of $39.32 and a 52-week high of $63.22. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $792.49 million. During the same quarter in the previous year, the company posted $0.96 EPS. Analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

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. The ex-dividend date is Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.51%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 33.59%.

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

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.

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