Rhumbline Advisers Sells 7,240 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Rhumbline Advisers lessened its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 415,453 shares of the bank’s stock after selling 7,240 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Zions Bancorporation, National Association worth $22,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter worth about $583,000. Cornercap Investment Counsel Inc. bought a new position in Zions Bancorporation, National Association in the 3rd quarter worth about $510,000. Sequoia Financial Advisors LLC grew its stake in Zions Bancorporation, National Association by 1.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock worth $1,302,000 after acquiring an additional 506 shares in the last quarter. State Street Corp grew its stake in Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after acquiring an additional 896,889 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Zions Bancorporation, National Association by 14.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 351,148 shares of the bank’s stock worth $16,581,000 after purchasing an additional 43,720 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ZION shares. Royal Bank of Canada upped 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. Keefe, Bruyette & Woods upped their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd. Barclays increased their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Evercore ISI increased their price objective on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.71.

Insider Buying and Selling

In other news, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the transaction, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $1,280,344.31. Following the completion of the transaction, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. This represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,219 shares of company stock valued at $2,420,122. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Price Performance

Shares of ZION opened at $55.12 on Friday. Zions Bancorporation, National Association has a 1-year low of $38.01 and a 1-year high of $63.22. The stock has a market cap of $8.14 billion, a PE ratio of 11.14, a P/E/G ratio of 1.66 and a beta of 1.11. The firm has a 50-day simple moving average of $56.11 and a two-hundred day simple moving average of $53.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. The firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, analysts forecast that Zions Bancorporation, National Association will post 5.38 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.12%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

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.