Sterling Capital Management LLC Buys 3,127 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Sterling Capital Management LLC increased its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 24.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,030 shares of the bank’s stock after acquiring an additional 3,127 shares during the quarter. Sterling Capital Management LLC’s holdings in Zions Bancorporation, National Association were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Zions Bancorporation, National Association during the 4th quarter valued at approximately $73,542,000. Boston Partners purchased a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $33,961,000. Vanguard Group Inc. lifted its stake in Zions Bancorporation, National Association by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock worth $1,032,775,000 after acquiring an additional 285,588 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Zions Bancorporation, National Association by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after purchasing an additional 194,995 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at approximately $7,739,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association 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 directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the 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 transaction, 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. Over the last three months, insiders sold 33,029 shares of company stock valued at $1,855,321. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Down 1.0 %

Shares of ZION stock opened at $43.36 on Thursday. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 8.76, 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. The company’s fifty day moving average price is $49.67 and its 200-day moving average price is $53.39. Zions Bancorporation, National Association has a one year low of $39.05 and a one year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued 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. The firm had revenue of $820.00 million during 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. Sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given 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 dividend yield of 3.97%. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ZION shares. Morgan Stanley lowered their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. 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 for the company in a research report on Tuesday, January 7th. Royal Bank of Canada upped their price objective on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their target price on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Stephens restated an “equal weight” rating and issued a $64.00 price target on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.81.

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.