Wedmont Private Capital Grows Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Wedmont Private Capital lifted its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,625 shares of the bank’s stock after buying an additional 427 shares during the period. Wedmont Private Capital’s holdings in Zions Bancorporation, National Association were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ZION. CWM LLC raised its holdings in Zions Bancorporation, National Association by 61.7% in the 3rd quarter. CWM LLC now owns 32,503 shares of the bank’s stock worth $1,535,000 after purchasing an additional 12,399 shares during the period. Artemis Investment Management LLP raised its holdings in Zions Bancorporation, National Association by 165.0% during the third quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock valued at $42,761,000 after acquiring an additional 563,889 shares during the period. Atomi Financial Group Inc. raised its holdings in Zions Bancorporation, National Association by 15.9% during the third quarter. Atomi Financial Group Inc. now owns 5,492 shares of the bank’s stock valued at $259,000 after acquiring an additional 754 shares during the period. Diversified Trust Co bought a new stake in Zions Bancorporation, National Association during the third quarter valued at about $698,000. Finally, GAMMA Investing LLC raised its holdings in Zions Bancorporation, National Association by 16.1% during the third quarter. GAMMA Investing LLC now owns 9,111 shares of the bank’s stock valued at $430,000 after acquiring an additional 1,265 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZION has been the subject of several recent research reports. Evercore ISI dropped their price target on Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Stephens lifted their price target on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods lifted their price target on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group dropped their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus target price of $49.28.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $49.97 on Friday. The company has a 50 day moving average price of $47.02 and a 200-day moving average price of $44.89. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. Zions Bancorporation, National Association has a fifty-two week low of $28.90 and a fifty-two week high of $53.32. The company has a market capitalization of $7.38 billion, a PE ratio of 12.04, a P/E/G ratio of 1.80 and a beta of 1.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. Zions Bancorporation, National Association’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share. As a group, equities analysts forecast that Zions Bancorporation, National Association will post 4.53 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.52%.

Insider Buying and Selling

In related news, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total value of $99,262.26. Following the completion of the transaction, the executive vice president now owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $51.78, for a total transaction of $99,262.26. Following the transaction, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the transaction, the vice president now directly owns 17,857 shares in the company, valued at approximately $925,528.31. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,073 shares of company stock valued at $3,476,298 over the last 90 days. Corporate insiders own 2.22% of the company’s stock.

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.