Harvest Fund Management Co. Ltd Raises Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Harvest Fund Management Co. Ltd boosted its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 925.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,491 shares of the bank’s stock after buying an additional 9,468 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Zions Bancorporation, National Association were worth $569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after purchasing an additional 183 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after purchasing an additional 493 shares during the period. Whipplewood Advisors LLC bought a new stake in Zions Bancorporation, National Association in the 4th quarter worth approximately $115,000. Brooklyn Investment Group bought a new stake in Zions Bancorporation, National Association in the 3rd quarter worth approximately $119,000. Finally, Smartleaf Asset Management LLC grew its position in Zions Bancorporation, National Association by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock worth $122,000 after purchasing an additional 368 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZION. Stephens reissued an “equal weight” rating and set a $64.00 price objective on shares of Zions Bancorporation, National Association in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, January 22nd. Barclays lifted their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. DA Davidson lifted their target price on shares of 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. Finally, UBS Group started coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price on the stock. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $61.18.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the company’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 in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company’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 transaction, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,713 shares of company stock worth $1,839,686 in the last three months. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Up 0.6 %

Shares of ZION stock opened at $49.64 on Friday. The stock has a market cap of $7.34 billion, a P/E ratio of 10.03, a PEG ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a 52 week low of $39.05 and a 52 week high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $54.38 and its two-hundred day simple moving average is $53.51.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787.70 million. During the same period in the previous year, the firm posted $0.78 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders 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 dividend yield of 3.46%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has approved 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 purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association Company 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.