Contravisory Investment Management Inc. Acquires 249 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Contravisory Investment Management Inc. increased its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,263 shares of the bank’s stock after acquiring an additional 249 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Zions Bancorporation, National Association were worth $937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter worth approximately $583,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Zions Bancorporation, National Association in the third quarter worth $510,000. Dimensional Fund Advisors LP increased its holdings in shares of Zions Bancorporation, National Association by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after acquiring an additional 929,251 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Zions Bancorporation, National Association by 1.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock worth $1,302,000 after purchasing an additional 506 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Zions Bancorporation, National Association by 75.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after purchasing an additional 433,513 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Trading Up 3.0 %

Shares of ZION stock opened at $58.20 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 2.86 and a beta of 1.12. Zions Bancorporation, National Association has a 1 year low of $37.76 and a 1 year high of $63.22. The firm has a fifty day moving average price of $57.31 and a 200-day moving average price of $51.40.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. As a group, equities analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.96%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is currently 39.18%.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the sale, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at $5,265,325.92. This represents a 9.93 % 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, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the transaction, the vice president now owns 35,878 shares in the company, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,881 shares of company stock worth $1,108,184. Company insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ZION shares. Wedbush raised their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley raised their price target on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Stephens upped their price objective on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods lifted their target price on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus price target of $58.25.

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.