Y Intercept Hong Kong Ltd Sells 9,749 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Y Intercept Hong Kong Ltd lowered its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 42.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,150 shares of the bank’s stock after selling 9,749 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Zions Bancorporation, National Association were worth $713,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its holdings in shares of Zions Bancorporation, National Association by 209.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after buying an additional 1,671 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Zions Bancorporation, National Association in the 3rd quarter valued at $119,000. TD Private Client Wealth LLC grew its position in Zions Bancorporation, National Association by 15.2% in the third quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank’s stock valued at $134,000 after acquiring an additional 375 shares during the period. Crewe Advisors LLC raised its stake in Zions Bancorporation, National Association by 24.9% during the third quarter. Crewe Advisors LLC now owns 3,950 shares of the bank’s stock worth $187,000 after acquiring an additional 787 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at $201,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock opened at $54.04 on Friday. Zions Bancorporation, National Association has a 52 week low of $38.01 and a 52 week high of $63.22. The firm has a fifty day moving average of $55.90 and a two-hundred day moving average of $53.36. 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 stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.61 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. The company had revenue of $820.00 million for 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 business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

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

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.18%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 34.75%.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the company’s 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 sale, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays upped their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price target on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Compass Point increased their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.71.

Zions Bancorporation, National Association 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.