Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC trimmed its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 28.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,384 shares of the bank's stock after selling 108,408 shares during the period. Rafferty Asset Management LLC owned 0.19% of Zions Bancorporation, National Association worth $14,940,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Zions Bancorporation, National Association by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after purchasing an additional 285,588 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 purchasing an additional 175,656 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in 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 purchasing an additional 194,995 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Zions Bancorporation, National Association by 0.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock valued at $146,396,000 after buying an additional 14,070 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Zions Bancorporation, National Association by 20.8% during the fourth 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. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Trading Down 2.9%

Shares of Zions Bancorporation, National Association stock traded down $1.40 on Wednesday, hitting $47.23. 308,828 shares of the company traded hands, compared to its average volume of 1,573,548. 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 $6.97 billion, a PE ratio of 9.60, a PEG ratio of 1.61 and a beta of 0.88. The stock's 50 day moving average price is $46.54 and its 200-day moving average price is $52.83. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The business had revenue of $795.00 million for the quarter, compared to the consensus estimate of $792.49 million. During the same quarter last year, the firm posted $0.96 EPS. Equities research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.64%. Zions Bancorporation, National Association's dividend payout ratio is currently 33.59%.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. 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. Robert W. Baird reduced their price target 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. DA Davidson boosted their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group began coverage on Zions Bancorporation, National Association in a research report on Wednesday. They set an "underperform" rating and a $40.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $57.94.

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.