Modern Wealth Management LLC Acquires Shares of 4,348 Zions Bancorporation, National Association (NASDAQ:ZION)

Modern Wealth Management LLC bought a new position in Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,348 shares of the bank’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after buying an additional 183 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after acquiring an additional 493 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth $62,000. Whipplewood Advisors LLC acquired a new position in shares of Zions Bancorporation, National Association during the 4th quarter valued at about $115,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Zions Bancorporation, National Association by 19.6% in the fourth 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 and hedge funds.

Zions Bancorporation, National Association Stock Down 1.6 %

Zions Bancorporation, National Association stock opened at $49.47 on Friday. The firm has a market capitalization of $7.30 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.61 and a beta of 1.10. 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 has a twelve month low of $39.05 and a twelve month high of $63.22. The stock’s fifty day simple moving average is $53.66 and its 200-day simple moving average is $53.65.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results 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. 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 return on equity of 13.65% and a net margin of 15.70%. Zions Bancorporation, National Association’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. As a group, equities analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were paid a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.48%. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ZION shares. Compass Point lifted their target price 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. The Goldman Sachs Group raised shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, January 7th. DA Davidson increased their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their target price 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. Finally, Royal Bank of Canada increased their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 22nd. One investment 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 has a consensus rating of “Hold” and an average target price of $60.94.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the 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 in the company, valued at approximately $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 worth $1,839,686 in the last 90 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.