Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,103,781 shares of the bank’s stock after selling 46,322 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Zions Bancorporation, National Association were worth $114,130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in shares of 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 valued at $332,515,000 after acquiring an additional 896,889 shares during the period. Wellington Management Group LLP acquired a new stake in Zions Bancorporation, National Association in the 3rd quarter valued at $24,647,000. Charles Schwab Investment Management Inc. raised its position in Zions Bancorporation, National Association by 4.2% in 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 purchasing an additional 194,995 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth about $7,739,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Zions Bancorporation, National Association in the third quarter worth about $4,189,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the firm’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 value of $1,280,344.31. Following the sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred 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 in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,713 shares of company stock worth $1,839,686 in the last three months. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $48.88 on Tuesday. 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 has a 12 month low of $39.05 and a 12 month high of $63.22. The company has a fifty day moving average price of $54.74 and a two-hundred day moving average price of $53.58. The company has a market cap of $7.23 billion, a PE ratio of 9.87, a P/E/G ratio of 1.61 and a beta of 1.10.

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, beating the consensus estimate of $1.26 by $0.08. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. Research analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has approved a share repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ZION shares. Compass Point raised their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd. Stephens restated an “equal weight” rating and issued a $64.00 target price on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. Barclays raised their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a report on Wednesday, January 22nd. Finally, 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 objective for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.18.

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.