Schonfeld Strategic Advisors LLC Reduces Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Schonfeld Strategic Advisors LLC lowered its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 53.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,958 shares of the bank's stock after selling 6,951 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Zions Bancorporation, National Association were worth $323,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ZION. Franklin Resources Inc. raised its holdings in shares of Zions Bancorporation, National Association by 13.6% during the third quarter. Franklin Resources Inc. now owns 203,567 shares of the bank's stock valued at $10,195,000 after acquiring an additional 24,414 shares during the last quarter. Global Financial Private Client LLC grew its stake in shares of Zions Bancorporation, National Association by 1.3% in the 4th quarter. Global Financial Private Client LLC now owns 33,501 shares of the bank's stock valued at $1,817,000 after buying an additional 429 shares during the period. Contravisory Investment Management Inc. grew its stake in shares of Zions Bancorporation, National Association by 1.5% in the 4th quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank's stock valued at $937,000 after buying an additional 249 shares during the period. Aaron Wealth Advisors LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at approximately $257,000. Finally, Delta Capital Management LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at approximately $242,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction that occurred 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 in the company, valued at approximately $1,655,305.11. The trade was a 43.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION traded up $0.16 on Friday, hitting $49.22. The stock had a trading volume of 759,674 shares, compared to its average volume of 1,580,961. 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 twelve month low of $39.32 and a twelve month high of $63.22. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The firm's 50 day moving average price is $46.48 and its 200-day moving average price is $52.87.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly 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 return on equity of 13.65% and a net margin of 15.70%. The company had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. During the same period in the prior year, the business posted $0.96 EPS. On average, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

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

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared 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. This represents a $1.72 annualized dividend and a yield of 3.49%. The ex-dividend date is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio is 33.59%.

Analysts Set New Price Targets

ZION has been the subject of several analyst reports. Royal Bank of Canada dropped their price target on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company reduced their price objective on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley lowered their price objective on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Argus raised shares of Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $58.47.

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.