Zions Bancorporation, National Association (NASDAQ:ZION) Stock Position Lessened by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,223 shares of the bank's stock after selling 13,204 shares during the quarter. Bank of Montreal Can's holdings in Zions Bancorporation, National Association were worth $2,453,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Polymer Capital Management US LLC purchased a new position in shares of Zions Bancorporation, National Association in the 4th quarter valued at $229,000. Sierra Summit Advisors LLC raised its position in Zions Bancorporation, National Association by 26.2% in the fourth quarter. Sierra Summit Advisors LLC now owns 21,701 shares of the bank's stock valued at $1,177,000 after purchasing an additional 4,511 shares during the period. Wells Fargo & Company MN raised its position in Zions Bancorporation, National Association by 73.2% in the fourth quarter. Wells Fargo & Company MN now owns 116,191 shares of the bank's stock valued at $6,303,000 after purchasing an additional 49,121 shares during the period. Prudential PLC acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth about $392,000. Finally, Headlands Technologies LLC boosted its position in shares of Zions Bancorporation, National Association by 13.5% in the fourth quarter. Headlands Technologies LLC now owns 30,287 shares of the bank's stock worth $1,643,000 after buying an additional 3,613 shares during the period. Hedge funds and other institutional investors own 76.84% of the company's stock.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, 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 value of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now directly owns 45,847 shares of the company's stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,029 shares of company stock worth $1,855,321 over the last ninety days. Company insiders own 2.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ZION shares. Stephens reduced their price target on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods decreased their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday. The Goldman Sachs Group raised 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 research note on Tuesday, January 7th. Robert W. Baird decreased their price objective on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Morgan Stanley dropped their target price on 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Zions Bancorporation, National Association presently has a consensus rating of "Hold" and an average target price of $59.00.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock traded down $0.49 on Tuesday, hitting $43.13. 3,084,045 shares of the stock traded hands, compared to its average volume of 1,576,885. The company's fifty day moving average is $48.70 and its 200 day moving average is $53.36. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a market capitalization of $6.36 billion, a PE ratio of 8.71, a PEG ratio of 1.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.

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

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 repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.99%. Zions Bancorporation, National Association's dividend payout ratio is currently 34.75%.

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.