California Public Employees Retirement System Sells 11,002 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

by · The Cerbat Gem

California Public Employees Retirement System reduced its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION – Free Report) by 4.4% in the fourth quarter, Holdings Channel reports. The firm owned 239,594 shares of the bank’s stock after selling 11,002 shares during the period. California Public Employees Retirement System’s holdings in Zions Bancorporation, National Association were worth $12,998,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ZION. EverSource Wealth Advisors LLC raised its position in Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after purchasing an additional 183 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Zions Bancorporation, National Association by 120.8% in the fourth 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. Millstone Evans Group LLC purchased a new stake in Zions Bancorporation, National Association in the fourth quarter worth about $62,000. Whipplewood Advisors LLC bought a new position in Zions Bancorporation, National Association during the 4th quarter worth about $115,000. Finally, Smartleaf Asset Management LLC increased its position in 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 valued at $122,000 after purchasing an additional 368 shares during the period. 76.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 transaction of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at approximately $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 three months, insiders sold 33,029 shares of company stock worth $1,855,321. Corporate insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Down 5.5 %

Zions Bancorporation, National Association stock opened at $41.39 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $6.11 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The business has a 50 day simple moving average of $52.52 and a 200-day simple moving average of $53.74. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same period in the prior year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its board has initiated a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.16%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s payout ratio is 34.75%.

Analysts Set New Price Targets

Several research analysts have recently commented on ZION shares. Morgan Stanley reduced their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company. JPMorgan Chase & Co. decreased their target price on 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 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 report on Wednesday, January 22nd. Finally, DA Davidson lifted their price objective on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.94.

Read Our Latest Report on ZION

Zions Bancorporation, National Association Company Profile

(Free Report)

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.

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