Pitcairn Co. Sells 401 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Pitcairn Co. decreased its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 5.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,858 shares of the bank’s stock after selling 401 shares during the period. Pitcairn Co.’s holdings in Zions Bancorporation, National Association were worth $372,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ZION. FMR LLC grew its holdings in Zions Bancorporation, National Association by 7.2% during the third quarter. FMR LLC now owns 282,205 shares of the bank’s stock valued at $13,326,000 after purchasing an additional 19,072 shares during the last quarter. Centiva Capital LP acquired a new position in Zions Bancorporation, National Association in the 3rd quarter valued at $638,000. Janus Henderson Group PLC raised its holdings in Zions Bancorporation, National Association by 7.9% in the 3rd quarter. Janus Henderson Group PLC now owns 69,055 shares of the bank’s stock worth $3,261,000 after acquiring an additional 5,076 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Zions Bancorporation, National Association by 4.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 59,368 shares of the bank’s stock worth $2,803,000 after acquiring an additional 2,523 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Zions Bancorporation, National Association by 46.5% during the third quarter. Quantinno Capital Management LP now owns 87,945 shares of the bank’s stock valued at $4,153,000 after acquiring an additional 27,927 shares during the period. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Stock Down 5.5 %

NASDAQ ZION opened at $41.39 on Friday. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.61 and a beta of 0.92. The stock’s 50 day moving average is $52.52 and its two-hundred day moving average is $53.74. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Equities analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share 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. Shareholders 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 dividend on an annualized basis and a yield of 4.16%. 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 share repurchase program on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ZION. Royal Bank of Canada lifted their price objective on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target 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 objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, January 22nd. Morgan Stanley dropped their target price 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 report on Thursday, March 13th. Finally, Wells Fargo & Company reduced their price target on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.94.

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 stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the sale, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,029 shares of company stock worth $1,855,321 over the last ninety days. Corporate 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.