Strategic Financial Concepts LLC Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

Strategic Financial Concepts LLC purchased a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 46,784 shares of the bank’s stock, valued at approximately $2,538,000.

Other hedge funds have also recently modified their holdings of the company. State Street Corp increased its holdings 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. Vaughan Nelson Investment Management L.P. raised its position in shares of Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after purchasing an additional 538,049 shares during the period. Wellington Management Group LLP purchased a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at $24,647,000. Assenagon Asset Management S.A. boosted its holdings in Zions Bancorporation, National Association by 124.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 290,165 shares of the bank’s stock worth $13,702,000 after buying an additional 161,118 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Zions Bancorporation, National Association by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock worth $221,367,000 after buying an additional 140,084 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ZION. DA Davidson upped their price objective on 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. Royal Bank of Canada lifted their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, January 22nd. UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective for the company. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. One 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.71.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock opened at $55.74 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average is $56.26 and its two-hundred day moving average is $52.94. Zions Bancorporation, National Association has a 52 week low of $38.01 and a 52 week high of $63.22. The company has a market capitalization of $8.23 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.26 by $0.08. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. As a group, analysts expect that Zions Bancorporation, National Association will post 5.26 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 13th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.09%. Zions Bancorporation, National Association’s payout ratio is 34.75%.

Insider Buying and Selling

In other news, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the transaction, the executive vice president now directly owns 86,232 shares in the company, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the business’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 transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,693 shares of company stock valued at $1,148,477 over the last quarter. 2.22% of the stock is owned by corporate 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.