Harbor Investment Advisory LLC Reduces Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Harbor Investment Advisory LLC trimmed its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 62,928 shares of the bank’s stock after selling 670 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Zions Bancorporation, National Association were worth $3,414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Zions Bancorporation, National Association in the third quarter valued at approximately $583,000. Cornercap Investment Counsel Inc. bought a new position in shares of Zions Bancorporation, National Association in the 3rd quarter worth $510,000. Sequoia Financial Advisors LLC raised its position in shares of Zions Bancorporation, National Association by 1.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock valued at $1,302,000 after buying an additional 506 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 75.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after acquiring an additional 433,513 shares during the last quarter. Finally, State Street Corp grew its position in Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after acquiring an additional 896,889 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Buying and Selling

In related news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares in the company, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the transaction, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,881 shares of company stock valued at $1,108,184 over the last three months. Corporate insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of research reports. UBS Group began coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price target on the stock. Stephens boosted their target price on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average target price of $58.25.

Zions Bancorporation, National Association Trading Up 1.3 %

NASDAQ ZION opened at $58.04 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22. The stock has a market cap of $8.57 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.12. The stock has a 50 day simple moving average of $57.26 and a two-hundred day simple moving average of $51.76.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter in the previous year, the business posted $1.13 earnings per share. On average, analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.96%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is currently 39.18%.

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.