Brandywine Global Investment Management LLC Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

Brandywine Global Investment Management LLC bought a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 37,246 shares of the bank’s stock, valued at approximately $2,021,000.

A number of other large investors have also recently modified their holdings of the stock. CIBC Private Wealth Group LLC boosted its position in Zions Bancorporation, National Association by 1,065.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 19,679 shares of the bank’s stock valued at $1,080,000 after acquiring an additional 17,990 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Zions Bancorporation, National Association in the 4th quarter valued at approximately $793,000. Norges Bank bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $73,542,000. Blair William & Co. IL grew its stake in Zions Bancorporation, National Association by 4.7% in the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank’s stock worth $364,000 after purchasing an additional 303 shares during the period. Finally, Trust Investment Advisors bought a new position in Zions Bancorporation, National Association in the fourth quarter worth $212,000. Institutional investors own 76.84% of the company’s stock.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,029 shares of company stock valued at $1,855,321 in the last quarter. 2.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ZION. The Goldman Sachs Group raised shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, January 7th. Compass Point boosted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays raised their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. Morgan Stanley dropped their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, DA Davidson lifted their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average price target of $60.94.

Zions Bancorporation, National Association Stock Up 1.9 %

ZION opened at $50.44 on Thursday. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.61 and a beta of 1.10. The firm has a 50 day moving average price of $53.15 and a 200-day moving average price of $53.80. Zions Bancorporation, National Association has a twelve month low of $39.05 and a twelve month high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. Equities research analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has initiated a stock buyback program on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a $0.43 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.41%. Zions Bancorporation, National Association’s payout ratio is 34.75%.

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.