LPL Financial LLC Sells 1,144 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

LPL Financial LLC reduced its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 1.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 59,609 shares of the bank’s stock after selling 1,144 shares during the quarter. LPL Financial LLC’s holdings in Zions Bancorporation, National Association were worth $3,234,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Zions Bancorporation, National Association by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after acquiring an additional 194,995 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Zions Bancorporation, National Association by 0.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank’s stock valued at $146,396,000 after purchasing an additional 14,070 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Zions Bancorporation, National Association by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock worth $124,592,000 after buying an additional 30,030 shares during the period. Boston Partners bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter worth approximately $33,961,000. Finally, American Century Companies Inc. increased its stake in shares of Zions Bancorporation, National Association by 4.4% during the fourth quarter. American Century Companies Inc. now owns 534,647 shares of the bank’s stock valued at $29,005,000 after buying an additional 22,367 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group started coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company. The Goldman Sachs Group raised shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, January 7th. Stephens reiterated an “equal weight” rating and set a $64.00 price target on shares of Zions Bancorporation, National Association in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of 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. Finally, Morgan Stanley reduced their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.81.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION opened at $42.00 on Friday. The company has a market capitalization of $6.20 billion, a PE ratio of 8.48, a PEG ratio of 1.61 and a beta of 0.92. The business has a fifty day moving average price of $50.53 and a 200-day moving average price of $53.50. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22. 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 issued its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) 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 business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same period in the previous year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 4.10%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

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

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 33,029 shares of company stock worth $1,855,321. Insiders own 2.22% of the company’s stock.

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.