Los Angeles Capital Management LLC Lowers Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Los Angeles Capital Management LLC lowered its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 0.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 348,830 shares of the bank’s stock after selling 2,318 shares during the period. Los Angeles Capital Management LLC owned approximately 0.24% of Zions Bancorporation, National Association worth $18,924,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in shares of Zions Bancorporation, National Association by 209.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after purchasing an additional 1,671 shares during the period. Brooklyn Investment Group purchased a new position in shares of Zions Bancorporation, National Association during the 3rd quarter worth approximately $119,000. TD Private Client Wealth LLC boosted its position in shares of Zions Bancorporation, National Association by 15.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank’s stock worth $134,000 after purchasing an additional 375 shares during the period. Crewe Advisors LLC boosted its position in shares of Zions Bancorporation, National Association by 24.9% during the 3rd quarter. Crewe Advisors LLC now owns 3,950 shares of the bank’s stock worth $187,000 after purchasing an additional 787 shares during the period. Finally, Diversify Wealth Management LLC purchased a new position in Zions Bancorporation, National Association in the 4th quarter valued at approximately $201,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ZION shares. Barclays raised their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday, January 22nd. Stephens raised their price target on shares of Zions Bancorporation, National Association from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada raised their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 22nd. UBS Group started coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.71.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION opened at $52.89 on Wednesday. The company’s fifty day moving average price is $55.87 and its 200 day moving average price is $53.30. Zions Bancorporation, National Association has a 12 month low of $38.01 and a 12 month high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $7.81 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.61 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.25%. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association 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 completion of the sale, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is owned by company insiders.

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.