Victory Capital Management Inc. Raises Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Victory Capital Management Inc. raised its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,515 shares of the bank’s stock after buying an additional 864 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of Zions Bancorporation, National Association worth $8,220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. lifted its position in shares of Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after purchasing an additional 493 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $115,000. Brooklyn Investment Group purchased a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter worth $119,000. Smartleaf Asset Management LLC lifted its position in shares of Zions Bancorporation, National Association by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock worth $122,000 after purchasing an additional 368 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in shares of Zions Bancorporation, National Association by 15.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank’s stock worth $134,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $48.63 on Friday. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. The firm has a 50 day moving average of $54.86 and a 200-day moving average of $53.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $7.19 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same quarter in the previous year, the company posted $0.78 EPS. Zions Bancorporation, National Association’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock buyback program on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ZION has been the topic of several research analyst reports. Compass Point lifted their price target on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. DA Davidson lifted their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Barclays lifted their price target 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. Keefe, Bruyette & Woods lifted their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley cut their price target on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.18.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was 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 trade represents a 43.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction dated 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 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 sold 32,713 shares of company stock valued at $1,839,686 in the last quarter. Company insiders own 2.22% of the company’s stock.

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.