Janney Montgomery Scott LLC acquired a new position in Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,040 shares of the bank’s stock, valued at approximately $256,000.
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Several other large investors have also recently modified their holdings of ZION. Massachusetts Financial Services Co. MA increased its holdings in shares of Zions Bancorporation, National Association by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,250,628 shares of the bank’s stock worth $216,356,000 after buying an additional 596,753 shares during the period. First Trust Advisors LP grew its stake in shares of Zions Bancorporation, National Association by 85.1% in the first quarter. First Trust Advisors LP now owns 933,128 shares of the bank’s stock worth $61,176,000 after purchasing an additional 429,080 shares during the last quarter. Sei Investments Co. grew its stake in shares of Zions Bancorporation, National Association by 261.5% in the second quarter. Sei Investments Co. now owns 291,844 shares of the bank’s stock worth $15,000,000 after purchasing an additional 211,120 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Zions Bancorporation, National Association in the first quarter worth about $13,112,000. Finally, Amundi grew its stake in shares of Zions Bancorporation, National Association by 14.6% in the second quarter. Amundi now owns 1,281,890 shares of the bank’s stock worth $62,223,000 after purchasing an additional 163,050 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on ZION shares. DA Davidson raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Tuesday, December 20th. They noted that the move was a valuation call. UBS Group raised their target price on Zions Bancorporation, National Association to $65.00 in a research note on Wednesday, November 16th. Stephens cut their price objective on 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 25th. Wells Fargo & Company cut their price objective on 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 25th. Finally, Barclays cut Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $68.00 to $59.00 in a research report on Tuesday, January 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, National Association presently has an average rating of “Hold” and a consensus target price of $59.92.
Zions Bancorporation, National Association Price Performance
ZION stock opened at $52.20 on Friday. The firm has a 50 day moving average price of $49.68 and a 200-day moving average price of $52.20. Zions Bancorporation, National Association has a 52-week low of $45.21 and a 52-week high of $75.44. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.71 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.72 and a current ratio of 0.73.
Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The bank reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.18. Zions Bancorporation, National Association had a net margin of 27.18% and a return on equity of 18.36%. The company had revenue of $988.00 million during the quarter, compared to analyst estimates of $873.05 million. During the same period in the previous year, the business earned $1.34 EPS. Equities research analysts forecast that Zions Bancorporation, National Association will post 6.58 EPS for the current fiscal year.
Zions Bancorporation, National Association announced that its Board of Directors has authorized a share repurchase plan on Friday, October 28th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the bank to purchase up to 0.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling
In other news, CEO Harris H. Simmons acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The stock was bought at an average cost of $50.44 per share, for a total transaction of $151,320.00. Following the acquisition, the chief executive officer now directly owns 1,245,034 shares in the company, valued at $62,799,514.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Harris H. Simmons acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The stock was bought at an average cost of $50.44 per share, for a total transaction of $151,320.00. Following the acquisition, the chief executive officer now directly owns 1,245,034 shares in the company, valued at $62,799,514.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP A Scott Anderson sold 14,774 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $49.82, for a total transaction of $736,040.68. Following the completion of the transaction, the vice president now owns 14,530 shares of the company’s stock, valued at $723,884.60. The disclosure for this sale can be found here. Insiders sold a total of 18,032 shares of company stock worth $905,391 in the last three months. Insiders own 1.81% of the company’s stock.
Zions Bancorporation, National Association Profile
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Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.
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