The Manufacturers Life Insurance Company Grows Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

The Manufacturers Life Insurance Company lifted its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 19.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 879,050 shares of the bank's stock after buying an additional 143,414 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.60% of Zions Bancorporation, National Association worth $47,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ZION. EverSource Wealth Advisors LLC lifted its position in Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock valued at $29,000 after acquiring an additional 183 shares during the period. Covestor Ltd grew its stake in shares of Zions Bancorporation, National Association by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after acquiring an additional 479 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings 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 acquiring an additional 493 shares in the last quarter. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association in the 4th quarter worth about $62,000. Finally, Natixis bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at about $102,000. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Trading Down 1.1 %

Shares of Zions Bancorporation, National Association stock traded down $0.51 on Tuesday, hitting $45.99. 932,733 shares of the company traded hands, compared to its average volume of 1,572,949. 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 $6.79 billion, a PE ratio of 9.26, a PEG ratio of 1.61 and a beta of 0.88. The stock's 50 day moving average price is $47.01 and its 200-day moving average price is $53.13. 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 announced its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. During the same quarter in the prior year, the company earned $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 Dividend Announcement

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 given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.74%. The ex-dividend date is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio is presently 33.59%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a stock 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 buy up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price objective on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their target price on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group raised Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price objective for the company in a report on Tuesday, January 7th. Stephens lowered their price objective on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a 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 assigned a buy rating to the stock. According to MarketBeat, Zions Bancorporation, National Association currently has an average rating of "Hold" and an average target price of $58.76.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,029 shares of company stock worth $1,855,321. Company insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association 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.