Seven Eight Capital LP Sells 10,800 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Seven Eight Capital LP lessened its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 17.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,460 shares of the bank’s stock after selling 10,800 shares during the quarter. Seven Eight Capital LP’s holdings in Zions Bancorporation, National Association were worth $2,145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new stake in Zions Bancorporation, National Association during the 1st quarter valued at approximately $27,000. Jones Financial Companies Lllp bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at approximately $29,000. ORG Partners LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at approximately $33,000. International Assets Investment Management LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at approximately $34,000. Finally, Rothschild Investment LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at approximately $39,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Price Performance

ZION opened at $47.01 on Thursday. The business has a fifty day moving average of $47.93 and a 200 day moving average of $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 quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11. The stock has a market cap of $6.94 billion, a P/E ratio of 11.81, a PEG ratio of 2.83 and a beta of 1.09.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $761.61 million. During the same quarter in the previous year, the business earned $1.11 EPS. Zions Bancorporation, National Association’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.52 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $0.41 dividend. 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 dividend payout ratio is 41.21%.

Analyst Ratings Changes

ZION has been the topic of several recent analyst reports. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Jefferies Financial Group cut their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. Robert W. Baird raised their price target on Zions Bancorporation, National Association from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company cut their price target on Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, August 21st. Finally, Stephens raised their price target on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.83.

Insiders Place Their Bets

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