Kayne Anderson Rudnick Investment Management LLC Has $544,000 Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Kayne Anderson Rudnick Investment Management LLC grew its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 40,000.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,025 shares of the bank’s stock after purchasing an additional 10,000 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Zions Bancorporation, National Association were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ZION. EverSource Wealth Advisors LLC grew its holdings in Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after buying an additional 183 shares in the last quarter. Covestor Ltd grew its stake in shares of Zions Bancorporation, National Association by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after acquiring an additional 479 shares in the last quarter. SRS Capital Advisors Inc. increased its position in 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 acquiring an additional 493 shares during the period. Millstone Evans Group LLC acquired a new stake in Zions Bancorporation, National Association in the 4th quarter worth about $62,000. Finally, Natixis bought a new stake in Zions Bancorporation, National Association in the 4th quarter valued at about $102,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZION has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird dropped their price objective on Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday. Wells Fargo & Company reduced their target price on Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods dropped their price target on Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday. Finally, Stephens reduced their price objective on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average target price of $59.00.

Zions Bancorporation, National Association Trading Down 1.1 %

NASDAQ ZION opened at $43.13 on Wednesday. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a twelve month low of $39.32 and a twelve month high of $63.22. 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 business’s fifty day moving average is $48.70 and its 200 day moving average is $53.36.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. During the same period last year, the firm posted $0.96 earnings per share. As a group, sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

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

Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,029 shares of company stock worth $1,855,321. Company 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.