Northern Trust Corp Has $79.95 Million Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Northern Trust Corp increased its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,473,712 shares of the bank's stock after buying an additional 284,624 shares during the period. Northern Trust Corp owned 1.00% of Zions Bancorporation, National Association worth $79,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZION. Franklin Resources Inc. lifted its position in Zions Bancorporation, National Association by 13.6% during the 3rd quarter. Franklin Resources Inc. now owns 203,567 shares of the bank's stock worth $10,195,000 after buying an additional 24,414 shares in the last quarter. GAMMA Investing LLC raised its holdings in Zions Bancorporation, National Association by 4.4% during the 4th quarter. GAMMA Investing LLC now owns 9,514 shares of the bank's stock worth $516,000 after purchasing an additional 403 shares during the last quarter. Nordea Investment Management AB raised its holdings in Zions Bancorporation, National Association by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 225,840 shares of the bank's stock worth $12,306,000 after purchasing an additional 13,329 shares during the last quarter. Neville Rodie & Shaw Inc. bought a new stake in Zions Bancorporation, National Association during the 4th quarter worth about $477,000. Finally, Global Financial Private Client LLC raised its holdings in Zions Bancorporation, National Association by 1.3% during the 4th quarter. Global Financial Private Client LLC now owns 33,501 shares of the bank's stock worth $1,817,000 after purchasing an additional 429 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ZION. Royal Bank of Canada dropped their price objective on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating for the company in a report on Tuesday, April 22nd. DA Davidson boosted their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Barclays boosted 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. Robert W. Baird dropped their price objective on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their price objective on 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 assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $58.76.

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, 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 value of $557,100.00. Following the completion of the sale, the executive vice president now owns 45,847 shares of the company's stock, valued at approximately $2,554,136.37. The trade was a 17.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business's 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 directly owns 29,313 shares of the company's stock, valued at approximately $1,655,305.11. The trade was a 43.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,029 shares of company stock valued at $1,855,321 in the last quarter. 2.22% of the stock is currently owned by insiders.

Zions Bancorporation, National Association Stock Down 0.4%

Shares of NASDAQ ZION traded down $0.21 during trading hours on Friday, hitting $46.56. The company had a trading volume of 959,393 shares, compared to its average volume of 1,583,490. The stock has a market capitalization of $6.87 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The firm's 50 day moving average is $46.46 and its 200-day moving average is $52.97.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

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 3.69%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio is 33.59%.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a share buyback plan on Monday, February 24th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is 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.