Boston Partners Purchases Shares of 619,087 Zions Bancorporation, National Association (NASDAQ:ZION)

Boston Partners purchased a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 619,087 shares of the bank’s stock, valued at approximately $33,961,000. Boston Partners owned 0.42% of Zions Bancorporation, National Association as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position 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 acquiring an additional 183 shares during the period. SRS Capital Advisors Inc. increased its position in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after acquiring an additional 493 shares during the period. Whipplewood Advisors LLC acquired a new position in Zions Bancorporation, National Association in the 4th quarter valued at approximately $115,000. Brooklyn Investment Group acquired a new position in Zions Bancorporation, National Association in the 3rd quarter valued at approximately $119,000. Finally, Smartleaf Asset Management LLC increased its position in Zions Bancorporation, National Association by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock valued at $122,000 after acquiring an additional 368 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, 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 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 over the last quarter. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Up 2.3 %

Zions Bancorporation, National Association stock opened at $49.34 on Thursday. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The firm’s fifty day moving average price is $54.48 and its two-hundred day moving average price is $53.54. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $787.70 million. During the same period last year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

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

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were issued a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.49%. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Analysts Set New Price Targets

A number of research firms have recently commented on ZION. Compass Point upped their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays upped their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. DA Davidson upped their price objective on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group began coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average price target of $61.18.

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.