NorthRock Partners LLC Invests $251,000 in Zions Bancorporation, National Association (NASDAQ:ZION)

NorthRock Partners LLC bought a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,629 shares of the bank’s stock, valued at approximately $251,000.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 183 shares in the last quarter. Covestor Ltd lifted its position in shares of Zions Bancorporation, National Association by 128.1% during the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock worth $46,000 after purchasing an additional 479 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after purchasing an additional 493 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth approximately $62,000. Finally, Natixis acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth approximately $102,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Stock Up 0.3%

Shares of NASDAQ:ZION opened at $49.22 on Friday. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $7.26 billion, a PE ratio of 9.94, a PEG ratio of 1.61 and a beta of 0.88. The company has a 50 day moving average price of $46.48 and a two-hundred day moving average price of $52.87.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock buyback program on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio is 33.59%.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction 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 sale, the executive vice president now owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This represents a 43.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZION. Keefe, Bruyette & Woods reduced their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their price objective on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird cut their price objective on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley cut their price objective on shares of 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. Finally, DA Davidson increased 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 report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average target price of $58.47.

Zions Bancorporation, National Association Company Profile

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.