Zions Bancorporation, National Association (NASDAQ: ZION) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC increased its stake in shares of Zions Bancorporation, National Association (NASDAQ: ZION – Get Rating) to 52.9% during the second quarter, HoldingsChannel.com reported. The fund held 6,077 shares of the bank’s stock after purchasing an additional 2,103 shares during the period. Cerity Partners LLC’s holding in Zions Bancorporation, National Association was $309,000 at the end of the most recent reporting period.

Other hedge funds also made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Zions Bankcorporation, National Association to 111.9% during the first quarter. After acquiring an additional 235 shares during this period, First Horizon Advisors Inc. A now owns 445 shares of the bank’s stock valued at $29,000. Exchange Traded Concepts LLC acquired a new position in shares of Zions Bancorporation, National Association during the second quarter valued at approximately $29,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Zions Bancorporation, National Association during the first quarter worth approximately $32,000. Ellevest Inc. raised its position in Zions Bancorporation, National Association by 67.0% in the second quarter. After buying an additional 262 shares during the last quarter, Ellevest Inc. A now owns 653 shares of the bank’s stock valued at $33,000. Finally, NuWave Investment Management LLC increased its position in Zions Bancorporation, National Association by 210.3% in the second quarter. NuWave Investment Management LLC now owns 968 shares of the bank’s stock valued at $49,000 after buying an additional 656 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in one transaction on Monday, October 31. Shares were sold at an average price of $52.05, for a total value of $123,774.90. Following the completion of the sale, the vice president now owns 15,172 shares of the company’s stock, valued at approximately $789,702.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Bruce K. Alexander sold 2,378 shares of the company’s stock in one transaction on Monday, October 31. Shares were sold at an average price of $52.05, for a total value of $123,774.90. Following the sale, the vice president now owns 15,172 shares of the company’s stock, valued at $789,702.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In addition, SVP James R. Abbott purchased 2,000 shares of Zions BankCorporation, National Association stock in a transaction on Thursday, November 17. The stock was purchased at an average price of $50.45 per share for a total transaction of $100,900.00. Following the completion of the transaction, the senior vice president now owns 79,918 shares of the company’s stock, valued at $4,031,863.10. Disclosure for this purchase can be found here. Company insiders hold 1.81% of the company’s stock.

Wall Street analysts weigh in

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Several research analysts have issued reports on the stock. Compass Point cut its price target on shares of Zions Bancorporation, National Association to $60.00 in a research report on Thursday, October 20. B. Riley cut their price target on shares of Zions Bancorporation, National Association from $60.00 to $55.00 in a research report on Wednesday, July 27. Wedbush cut their price target on shares of Zions Bancorporation, National Association from $61.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 25. Wells Fargo & Company cut its price target on shares of Zions Bancorporation, National Association from $66.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 25. Finally, Stephens reduced his price target on shares of Zions Bancorporation, National Association from $61.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 25. One equity research analyst has rated the stock with a Sell rating, thirteen have a Hold rating and four have a Buy rating on the stock. Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average target price of $62.31, according to MarketBeat.com.

Zions Bancorporation, National Association is trading down 0.2%

NASDAQ: Shares of ZION opened on Monday at $50.68. The firm’s fifty-day moving average is $52.39 and its two hundred-day moving average is $53.56. The firm has a market capitalization of $7.58 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 1.84, and a beta of 1.18. Zions Bancorporation, National Association had a 12-month low of $46.58 and a 12-month high of $75.44. The company has a quick ratio of 0.72, current ratio of 0.72 and debt-to-equity ratio of 0.15.

Zions Bancorporation, National Association (NASDAQ: ZION – Get Rating) last issued its earnings results on Monday, October 24. The bank reported earnings per share (EPS) of $1.40 for the quarter, missing analysts’ consensus estimates of $1.58 ($0.18). The company’s revenue for the quarter was $838.00 million, beating analyst estimates of $816.01 million. Zions Bancorporation, National Association had a net margin of 26.92% and a return on equity of 14.98%. The company’s quarterly revenue was up 19.5% on a year-on-year basis. During the same period last year, the business earned $1.45 EPS. On average, equity analysts expect Zions Bancorporation, National Association to post 5.63 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a share buyback program on Friday, July 29 that authorizes the company to buy back $50.00 million of outstanding shares. This buyback authorization authorizes the bank to repurchase up to 0.6% of its stock through open market purchases. A stock buyback program is usually a sign that a company’s management believes that its shares are undervalued.

Zions Bancorporation, National Association Declares Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. A dividend of $0.41 per share was paid to shareholders of record on Thursday, November 10. This represents a $1.64 dividend and a dividend yield of 3.24% on an annualized basis. The ex-dividend date of this dividend was Wednesday, November 9. Zions Bancorporation, National Association’s Dividend Payout Ratio (DPR) currently stands at 30.94%.

About Zions Bancorporation, National Association

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Zions Bancorporation NA is a bank holding company engaged in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegee Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington.

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ: ZION)

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