Centiva Capital LP Sells 589 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Centiva Capital LP lowered its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 4.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,912 shares of the bank’s stock after selling 589 shares during the quarter. Centiva Capital LP’s holdings in Zions Bancorporation, National Association were worth $700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ZION. Vanguard Group Inc. increased its holdings in Zions Bancorporation, National Association by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock valued at $1,032,775,000 after acquiring an additional 285,588 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Zions Bancorporation, National Association by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank’s stock worth $369,295,000 after purchasing an additional 175,656 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 worth $264,902,000 after purchasing an additional 194,995 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Zions Bancorporation, National Association by 0.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank’s stock worth $146,396,000 after buying an additional 14,070 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Zions Bancorporation, National Association by 20.8% during the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank’s stock valued at $123,016,000 after buying an additional 390,601 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZION shares. Morgan Stanley reduced their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Robert W. Baird reduced their price target on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Argus upgraded shares of Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, April 28th. Stephens reduced their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.76.

Insider Activity

In related news, EVP Steven Dan Stephens sold 10,000 shares of the business’s 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 completion of the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $1,280,344.31. Following the sale, the executive vice president now directly 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. In the last quarter, insiders sold 33,029 shares of company stock worth $1,855,321. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Stock Up 3.0 %

Shares of NASDAQ ZION opened at $46.77 on Friday. The stock has a 50 day moving average price of $46.55 and a 200 day moving average price of $53.00. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.61 and a beta of 0.88. 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.

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

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 33.59%.

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

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.