Artemis Investment Management LLP Sells 61,423 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Artemis Investment Management LLP cut its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 15.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 341,687 shares of the bank’s stock after selling 61,423 shares during the period. Artemis Investment Management LLP owned 0.23% of Zions Bancorporation, National Association worth $14,819,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ZION. Price T Rowe Associates Inc. MD grew its position in Zions Bancorporation, National Association by 103.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock worth $7,163,000 after buying an additional 4,993,164 shares in the last quarter. Norges Bank acquired a new stake in Zions Bancorporation, National Association during the fourth quarter worth about $67,694,000. Dimensional Fund Advisors LP grew its position in Zions Bancorporation, National Association by 22.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,016,407 shares of the bank’s stock worth $220,077,000 after buying an additional 927,899 shares in the last quarter. Principal Financial Group Inc. grew its position in Zions Bancorporation, National Association by 197.5% during the first quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock worth $24,616,000 after buying an additional 376,549 shares in the last quarter. Finally, rhino investment partners Inc acquired a new stake in Zions Bancorporation, National Association during the fourth quarter worth about $15,553,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION traded down $0.08 during mid-day trading on Monday, hitting $45.87. The stock had a trading volume of 862,455 shares, compared to its average volume of 2,328,030. Zions Bancorporation, National Association has a twelve month low of $28.90 and a twelve month high of $53.32. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 2.77 and a beta of 1.11. The company’s 50 day simple moving average is $45.19 and its 200 day simple moving average is $42.86. 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 (NASDAQ:ZION) last issued its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.18. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The business had revenue of $776.00 million during the quarter, compared to the consensus estimate of $761.61 million. During the same period last year, the business posted $1.11 EPS. Zions Bancorporation, National Association’s revenue was down .5% on a year-over-year basis. On average, equities research 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 company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.64 annualized dividend and a yield of 3.58%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 41.21%.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the firm’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 transaction of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares in the company, valued at $1,275,859.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Scott J. Mclean sold 60,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the sale, the president now directly owns 74,286 shares in the company, valued at $3,850,243.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,578 shares of company stock worth $3,498,965. Insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

ZION has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the company a “sector perform” rating in a report on Tuesday, July 23rd. Stephens upped their price objective on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Argus downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price objective on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the stock a “market perform” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.72.

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.