Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Ethic Inc.

Ethic Inc. trimmed its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 18.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,872 shares of the bank's stock after selling 6,846 shares during the period. Ethic Inc.'s holdings in Zions Bancorporation, National Association were worth $1,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZION. Franklin Resources Inc. grew its position in shares of Zions Bancorporation, National Association by 13.6% in the 3rd quarter. Franklin Resources Inc. now owns 203,567 shares of the bank's stock worth $10,195,000 after acquiring an additional 24,414 shares in the last quarter. Global Financial Private Client LLC boosted its holdings in Zions Bancorporation, National Association by 1.3% in the fourth 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 period. Contravisory Investment Management Inc. increased its stake in Zions Bancorporation, National Association by 1.5% during the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank's stock valued at $937,000 after purchasing an additional 249 shares during the last quarter. Aaron Wealth Advisors LLC bought a new stake in Zions Bancorporation, National Association during the fourth quarter valued at $257,000. Finally, Delta Capital Management LLC acquired a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth $242,000. 76.84% of the stock is owned by institutional investors.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 45,847 shares of the company's stock, valued at $2,554,136.37. This trade represents a 17.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,989 shares of company stock valued at $1,853,080 over the last 90 days. 2.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Royal Bank of Canada decreased 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 report on Tuesday, April 22nd. DA Davidson lifted their target price on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Robert W. Baird lowered their target price 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. Stephens cut 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 report on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on 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, April 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Zions Bancorporation, National Association has a consensus rating of "Hold" and an average target price of $58.76.

Zions Bancorporation, National Association Trading Up 6.3%

Shares of NASDAQ:ZION opened at $49.46 on Tuesday. The company has a 50 day moving average of $46.43 and a 200-day moving average of $52.96. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a market cap of $7.30 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a twelve month low of $39.32 and a twelve month high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released 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. The firm 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 period in the prior year, the firm posted $0.96 earnings per share. As a group, analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

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

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.48%. Zions Bancorporation, National Association's dividend payout ratio is currently 33.59%.

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.

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