Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lowered its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,602 shares of the bank’s stock after selling 1,005 shares during the period. Bessemer Group Inc.’s holdings in Zions Bancorporation, National Association were worth $358,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ZION. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 183 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 120.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after acquiring an additional 493 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth about $62,000. Whipplewood Advisors LLC purchased a new position in Zions Bancorporation, National Association during the fourth quarter worth about $115,000. Finally, Smartleaf Asset Management LLC lifted its position in Zions Bancorporation, National Association by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock valued at $122,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZION. DA Davidson raised their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Morgan Stanley lowered their target price on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Barclays lifted their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price target on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. Finally, UBS Group began coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price for the company. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.81.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business’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 transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,029 shares of company stock worth $1,855,321 over the last three months. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Trading Up 2.1 %

NASDAQ ZION opened at $43.79 on Wednesday. The company has a 50-day moving average of $49.95 and a 200-day moving average of $53.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22. The company has a market cap of $6.46 billion, a P/E ratio of 8.85, a P/E/G ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping 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 company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787.70 million. During the same quarter last year, the firm posted $0.78 earnings per share. Zions Bancorporation, National Association’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

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

About Zions Bancorporation, National Association

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.