AlphaCrest Capital Management LLC Has $1.98 Million Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

AlphaCrest Capital Management LLC grew its holdings in Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) by 201.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,846 shares of the bank’s stock after buying an additional 25,951 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Zions Bancorporation, National Association were worth $1,977,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZION. First Horizon Advisors Inc. increased its position in Zions Bancorporation, National Association by 111.9% in the first quarter. First Horizon Advisors Inc. now owns 445 shares of the bank’s stock worth $29,000 after purchasing an additional 235 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Zions Bancorporation, National Association in the second quarter worth about $29,000. Ellevest Inc. increased its position in Zions Bancorporation, National Association by 67.0% in the second quarter. Ellevest Inc. now owns 653 shares of the bank’s stock worth $33,000 after purchasing an additional 262 shares during the period. NuWave Investment Management LLC increased its position in Zions Bancorporation, National Association by 210.3% in the second quarter. NuWave Investment Management LLC now owns 968 shares of the bank’s stock worth $49,000 after purchasing an additional 656 shares during the period. Finally, Tobam increased its position in Zions Bancorporation, National Association by 106.4% in the second quarter. Tobam now owns 1,096 shares of the bank’s stock worth $56,000 after purchasing an additional 565 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ZION. Stephens lowered their price objective on Zions Bancorporation, National Association from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 25th. Wells Fargo & Company reduced their target price on Zions Bancorporation, National Association from $66.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 25th. StockNews.com assumed coverage on Zions Bancorporation, National Association in a report on Wednesday, October 12th. They set a “hold” rating on the stock. UBS Group raised their target price on Zions Bancorporation, National Association to $65.00 in a report on Wednesday, November 16th. Finally, DA Davidson reduced their target price on Zions Bancorporation, National Association from $61.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.31.

Insider Activity at Zions Bancorporation, National Association

In related news, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $52.05, for a total value of $123,774.90. Following the sale, the vice president now owns 15,172 shares of the company’s stock, valued at approximately $789,702.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $52.05, for a total value of $123,774.90. Following the sale, the vice president now owns 15,172 shares of the company’s stock, valued at approximately $789,702.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James R. Abbott bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average cost of $50.45 per share, for a total transaction of $100,900.00. Following the transaction, the senior vice president now owns 79,918 shares in the company, valued at approximately $4,031,863.10. The disclosure for this purchase can be found here. 1.81% of the stock is owned by insiders.

Zions Bancorporation, National Association Trading Up 0.5 %

NASDAQ:ZION opened at $51.52 on Thursday. Zions Bancorporation, National Association has a fifty-two week low of $46.58 and a fifty-two week high of $75.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $7.71 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business’s 50-day simple moving average is $51.98 and its 200-day simple moving average is $53.47.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last announced its earnings results on Monday, October 24th. The bank reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.18). Zions Bancorporation, National Association had a net margin of 26.92% and a return on equity of 14.98%. The firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $816.01 million. During the same period in the prior year, the business posted $1.45 EPS. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. Sell-side analysts expect that Zions Bancorporation, National Association will post 5.63 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 10th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Wednesday, November 9th. Zions Bancorporation, National Association’s dividend payout ratio is presently 30.94%.

Zions Bancorporation, National Association declared that its board has authorized a stock buyback program on Friday, July 29th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

About Zions Bancorporation, National Association

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.

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

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