California Public Employees Retirement System Sells 11,002 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

California Public Employees Retirement System reduced its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,594 shares of the bank’s stock after selling 11,002 shares during the quarter. California Public Employees Retirement System owned 0.16% of Zions Bancorporation, National Association worth $12,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ZION. FMR LLC grew its position in Zions Bancorporation, National Association by 7.2% in the 3rd quarter. FMR LLC now owns 282,205 shares of the bank’s stock worth $13,326,000 after purchasing an additional 19,072 shares during the period. Centiva Capital LP bought a new stake in shares of Zions Bancorporation, National Association in the third quarter worth $638,000. Janus Henderson Group PLC increased its position in Zions Bancorporation, National Association by 7.9% during the third quarter. Janus Henderson Group PLC now owns 69,055 shares of the bank’s stock valued at $3,261,000 after acquiring an additional 5,076 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Zions Bancorporation, National Association by 4.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 59,368 shares of the bank’s stock valued at $2,803,000 after acquiring an additional 2,523 shares during the period. Finally, Quantinno Capital Management LP boosted its position in Zions Bancorporation, National Association by 46.5% in the third quarter. Quantinno Capital Management LP now owns 87,945 shares of the bank’s stock worth $4,153,000 after purchasing an additional 27,927 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Stock Down 5.5 %

Shares of ZION stock opened at $41.39 on Friday. The company’s fifty day simple moving average is $52.52 and its two-hundred day simple moving average is $53.74. Zions Bancorporation, National Association has a 52 week low of $39.05 and a 52 week high of $63.22. The stock has a market cap of $6.11 billion, a P/E ratio of 8.36, a PEG ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

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

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

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

Wall Street Analyst Weigh In

ZION has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, January 7th. Compass Point upped their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Stephens reaffirmed an “equal weight” rating and issued a $64.00 target price on shares of Zions Bancorporation, National Association in a report on Wednesday, March 5th. Finally, Barclays boosted their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus target price of $60.94.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 directly owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction 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 sale, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,029 shares of company stock valued at $1,855,321 over the last 90 days. 2.22% of the stock is owned by corporate insiders.

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.