BNP Paribas Arbitrage SA Sells 9,431 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

BNP Paribas Arbitrage SA lowered its position in shares of Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) by 8.6% in the fourth quarter, HoldingsChannel reports. The fund owned 100,252 shares of the bank’s stock after selling 9,431 shares during the period. BNP Paribas Arbitrage SA’s holdings in Zions Bancorporation, National Association were worth $6,332,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ZION. Allspring Global Investments Holdings LLC bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth $104,419,000. American Century Companies Inc. increased its holdings in Zions Bancorporation, National Association by 3,708.0% in the third quarter. American Century Companies Inc. now owns 621,203 shares of the bank’s stock valued at $38,447,000 after purchasing an additional 604,890 shares during the last quarter. Millennium Management LLC increased its holdings in Zions Bancorporation, National Association by 208.9% in the third quarter. Millennium Management LLC now owns 599,410 shares of the bank’s stock valued at $37,097,000 after purchasing an additional 405,374 shares during the last quarter. Todd Asset Management LLC increased its holdings in Zions Bancorporation, National Association by 97.1% in the fourth quarter. Todd Asset Management LLC now owns 805,736 shares of the bank’s stock valued at $50,891,000 after purchasing an additional 396,965 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Zions Bancorporation, National Association by 125.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 647,004 shares of the bank’s stock valued at $40,864,000 after purchasing an additional 360,100 shares during the last quarter. Institutional investors own 82.24% of the company’s stock.

A number of equities research analysts recently commented on the company. Raymond James downgraded Zions Bancorporation, National Association from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, April 26th. The Goldman Sachs Group upped their price objective on Zions Bancorporation, National Association from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Monday, April 4th. Zacks Investment Research cut Zions Bancorporation, National Association from a “strong-buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research report on Monday, March 21st. DA Davidson reaffirmed a “neutral” rating on shares of Zions Bancorporation, National Association in a research report on Tuesday, January 25th. Finally, StockNews.com initiated coverage on Zions Bancorporation, National Association in a research report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.47.

Shares of NASDAQ ZION opened at $53.56 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day moving average price of $62.78 and a 200 day moving average price of $65.17. The stock has a market capitalization of $8.11 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 8.21 and a beta of 1.29. Zions Bancorporation, National Association has a 52 week low of $47.06 and a 52 week high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last released its quarterly earnings data on Monday, April 25th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.12. The firm had revenue of $694.00 million for the quarter, compared to analyst estimates of $700.11 million. Zions Bancorporation, National Association had a return on equity of 14.53% and a net margin of 34.40%. During the same quarter in the prior year, the company earned $1.90 earnings per share. As a group, research analysts forecast that Zions Bancorporation, National Association will post 5.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 19th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $1.52 annualized dividend and a yield of 2.84%. Zions Bancorporation, National Association’s dividend payout ratio is 24.76%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share buyback program on Friday, January 28th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other news, SVP James R. Abbott bought 10,000 shares of the stock in a transaction dated Monday, May 2nd. The shares were bought at an average price of $57.03 per share, for a total transaction of $570,300.00. Following the completion of the purchase, the senior vice president now owns 77,918 shares in the company, valued at $4,443,663.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP A Scott Anderson sold 30,703 shares of the stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $71.85, for a total value of $2,206,010.55. The disclosure for this sale can be found here. 1.81% of the stock is owned by corporate insiders.

Zions Bancorporation, National Association Profile (Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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