Everence Capital Management Inc. Acquires Shares of 8,440 Zions Bancorporation, National Association (NASDAQ:ZION)

Everence Capital Management Inc. acquired a new position in Zions Bancorporation, National Association (NASDAQ:ZION) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,440 shares of the bank’s stock, valued at approximately $370,000.

Several other large investors also recently added to or reduced their stakes in ZION. Norges Bank purchased a new stake in Zions Bancorporation, National Association in the 4th quarter worth about $91,760,000. Vaughan Nelson Investment Management L.P. grew its holdings in Zions Bancorporation, National Association by 119.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after buying an additional 1,259,571 shares in the last quarter. State Street Corp grew its holdings in Zions Bancorporation, National Association by 14.9% during the 1st quarter. State Street Corp now owns 8,262,892 shares of the bank’s stock valued at $247,308,000 after buying an additional 1,069,816 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in Zions Bancorporation, National Association during the 3rd quarter valued at about $28,113,000. Finally, Morgan Stanley grew its holdings in Zions Bancorporation, National Association by 19.8% during the 3rd quarter. Morgan Stanley now owns 4,513,266 shares of the bank’s stock valued at $157,468,000 after buying an additional 745,919 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $39.24 on Friday. The business has a 50 day moving average of $40.78 and a 200 day moving average of $39.02. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 9.02 and a beta of 1.13. Zions Bancorporation, National Association has a 1-year low of $18.26 and a 1-year high of $46.15. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, January 22nd. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $754.81 million. Zions Bancorporation, National Association had a return on equity of 15.33% and a net margin of 14.71%. During the same quarter in the previous year, the firm earned $1.84 EPS. On average, sell-side analysts predict that Zions Bancorporation, National Association will post 4.27 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were given a $0.41 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.64 annualized dividend and a yield of 4.18%. Zions Bancorporation, National Association’s payout ratio is currently 37.70%.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 832 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $39.24, for a total value of $32,647.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Harris H. Simmons acquired 3,600 shares of the stock in a transaction on Tuesday, February 6th. The stock was purchased at an average price of $38.99 per share, for a total transaction of $140,364.00. Following the completion of the transaction, the chief executive officer now owns 1,261,866 shares of the company’s stock, valued at approximately $49,200,155.34. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP A Scott Anderson sold 832 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $39.24, for a total value of $32,647.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,022 shares of company stock worth $744,893. 2.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ZION. Robert W. Baird reduced their target price on Zions Bancorporation, National Association from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, January 23rd. Stephens lifted their target price on Zions Bancorporation, National Association from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, January 23rd. Evercore ISI lifted their target price on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Compass Point reiterated a “neutral” rating on shares of Zions Bancorporation, National Association in a research report on Monday, January 8th. Finally, Morgan Stanley lifted their price target on Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.00.

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.