Choreo LLC Acquires New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Choreo LLC bought a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,058 shares of the bank’s stock, valued at approximately $262,000.

Other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at $359,000. Principal Financial Group Inc. increased its holdings in shares of Zions Bancorporation, National Association by 5.5% in the fourth quarter. Principal Financial Group Inc. now owns 190,649 shares of the bank’s stock valued at $8,364,000 after purchasing an additional 9,957 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Zions Bancorporation, National Association in the fourth quarter valued at about $369,000. Kentucky Retirement Systems raised its stake in shares of Zions Bancorporation, National Association by 5.4% in the fourth quarter. Kentucky Retirement Systems now owns 11,854 shares of the bank’s stock worth $520,000 after purchasing an additional 605 shares during the last quarter. Finally, ING Groep NV acquired a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth about $819,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

ZION opened at $47.01 on Thursday. The firm’s fifty day simple moving average is $47.93 and its two-hundred day simple moving average is $44.13. Zions Bancorporation, National Association has a 52-week low of $28.90 and a 52-week high of $53.32. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.83 and a beta of 1.09. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.18. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $761.61 million. During the same period in the previous year, the firm posted $1.11 EPS. Zions Bancorporation, National Association’s revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that Zions Bancorporation, National Association will post 4.52 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s payout ratio is 41.21%.

Wall Street Analysts Forecast Growth

ZION has been the topic of several research reports. Jefferies Financial Group cut their price target on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. Royal Bank of Canada raised their target price on shares of Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group upped their price target on shares of Zions Bancorporation, National Association from $47.00 to $54.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Argus lowered Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Wedbush boosted their price objective on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.83.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction on Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the sale, the vice president now owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total value of $99,262.26. Following the transaction, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the sale, the vice president now owns 17,857 shares of the company’s stock, valued at $925,528.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,073 shares of company stock valued at $3,476,298. 2.22% of the stock is owned by insiders.

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.