Proficio Capital Partners LLC Acquires Shares of 78,107 Zions Bancorporation, National Association (NASDAQ:ZION)

Proficio Capital Partners LLC bought a new position in Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 78,107 shares of the bank’s stock, valued at approximately $4,237,000. Proficio Capital Partners LLC owned 0.05% of Zions Bancorporation, National Association at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cookson Peirce & Co. Inc. bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at about $651,000. Victory Capital Management Inc. grew its holdings in shares of Zions Bancorporation, National Association by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 151,515 shares of the bank’s stock valued at $8,220,000 after buying an additional 864 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Zions Bancorporation, National Association by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after acquiring an additional 194,995 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Zions Bancorporation, National Association by 22.5% in the 4th quarter. Jones Financial Companies Lllp now owns 6,666 shares of the bank’s stock worth $362,000 after acquiring an additional 1,226 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted 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 valued at $49,000 after acquiring an additional 493 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the firm’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 of the company’s stock, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 of the company’s stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,713 shares of company stock worth $1,839,686 in the last three months. Corporate insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Trading Up 0.5 %

ZION stock opened at $48.88 on Tuesday. Zions Bancorporation, National Association has a twelve month low of $39.05 and a twelve month high of $63.22. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. 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 firm’s fifty day simple moving average is $54.74 and its two-hundred day simple moving average is $53.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

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 shares. This repurchase authorization permits the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders 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 annualized dividend and a yield of 3.52%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. DA Davidson boosted their target price on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective 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. Keefe, Bruyette & Woods increased their target price on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd. Royal Bank of Canada increased their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 22nd. Finally, Stephens reaffirmed 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. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.18.

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.