Picton Mahoney Asset Management Takes $415,000 Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Picton Mahoney Asset Management acquired a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,480 shares of the bank’s stock, valued at approximately $415,000.

Several other institutional investors have also modified their holdings of the company. Federated Hermes Inc. raised its position in Zions Bancorporation, National Association by 105.4% in the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock worth $28,000 after acquiring an additional 331 shares in the last quarter. Versant Capital Management Inc grew its position in Zions Bancorporation, National Association by 4,613.3% in the fourth quarter. Versant Capital Management Inc now owns 2,121 shares of the bank’s stock worth $93,000 after buying an additional 2,076 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Zions Bancorporation, National Association by 15.5% in the third quarter. Daiwa Securities Group Inc. now owns 3,497 shares of the bank’s stock valued at $122,000 after buying an additional 469 shares in the last quarter. EMC Capital Management bought a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter worth $126,000. Finally, Covestor Ltd boosted its position in shares of Zions Bancorporation, National Association by 22.7% in the 3rd quarter. Covestor Ltd now owns 4,367 shares of the bank’s stock valued at $152,000 after purchasing an additional 809 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Transactions at Zions Bancorporation, National Association

In related news, VP Mark Richard Young sold 5,597 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.21, for a total value of $225,055.37. Following the completion of the sale, the vice president now owns 12,133 shares in the company, valued at $487,867.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 1,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total value of $65,520.00. Following the sale, the chief executive officer now owns 22,181 shares of the company’s stock, valued at approximately $968,866.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark Richard Young sold 5,597 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.21, for a total transaction of $225,055.37. Following the transaction, the vice president now directly owns 12,133 shares of the company’s stock, valued at $487,867.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,888 shares of company stock worth $827,655. 2.22% of the stock is currently owned by company insiders.

Zions Bancorporation, National Association Stock Performance

ZION opened at $44.13 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $41.43 and its two-hundred day moving average price is $39.84. The firm has a market capitalization of $6.51 billion, a P/E ratio of 11.09 and a beta of 1.13. Zions Bancorporation, National Association has a 12-month low of $21.96 and a 12-month high of $46.15.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Friday, April 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.02). Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $747.21 million. During the same quarter in the previous year, the business posted $1.33 EPS. On average, equities analysts forecast that Zions Bancorporation, National Association will post 4.38 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.41 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.72%. Zions Bancorporation, National Association’s payout ratio is 41.21%.

Analyst Ratings Changes

ZION has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, February 7th. UBS Group lowered their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. Royal Bank of Canada upped their target price on Zions Bancorporation, National Association from $46.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday, April 23rd. Evercore ISI upped their target price on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Zions Bancorporation, National Association in a report on Wednesday, April 10th. They issued a “hold” rating and a $47.00 target price on the stock. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.16.

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.