Deutsche Bank AG Increases Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Deutsche Bank AG grew its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 343.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 275,575 shares of the bank’s stock after acquiring an additional 213,405 shares during the quarter. Deutsche Bank AG owned about 0.19% of Zions Bancorporation, National Association worth $14,950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after acquiring an additional 183 shares during the period. Covestor Ltd raised its stake in shares of Zions Bancorporation, National Association by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after acquiring an additional 479 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Zions Bancorporation, National Association by 120.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after acquiring an additional 493 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at $62,000. Finally, Natixis purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at $102,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. DA Davidson raised their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Barclays raised their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Argus raised shares of Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their price target on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens reduced their price target on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.47.

Zions Bancorporation, National Association Trading Down 1.0%

NASDAQ ZION opened at $49.06 on Friday. Zions Bancorporation, National Association has a one year low of $39.32 and a one year high of $63.22. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day simple moving average is $46.44 and its two-hundred day simple moving average is $52.89.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The business had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $792.49 million. During the same period last year, the business earned $0.96 EPS. Equities analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio is currently 33.59%.

Zions Bancorporation, National Association announced that its board has approved a share repurchase program on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Company 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.