Legacy Capital Group California Inc. Cuts Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Legacy Capital Group California Inc. reduced its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 3.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 26,419 shares of the bank’s stock after selling 1,056 shares during the period. Legacy Capital Group California Inc.’s holdings in Zions Bancorporation, National Association were worth $1,146,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new stake in Zions Bancorporation, National Association during the 1st quarter valued at $27,000. Federated Hermes Inc. raised its stake in shares of Zions Bancorporation, National Association by 105.4% during the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock valued at $28,000 after acquiring an additional 331 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth about $29,000. ORG Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association during the second quarter worth about $33,000. Finally, Quarry LP bought a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth about $49,000. 76.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ZION shares. Compass Point lifted their price target on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group boosted their price target on Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley raised their price objective on Zions Bancorporation, National Association from $42.00 to $54.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. UBS Group dropped their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada raised their price target 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. 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’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average price target of $48.72.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $51.78, for a total transaction of $99,262.26. Following the sale, the executive vice president now owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $51.78, for a total transaction of $99,262.26. Following the transaction, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the sale, the vice president now directly owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. The disclosure for this sale can be found here. Insiders sold a total of 67,073 shares of company stock valued at $3,476,298 in the last ninety days. Corporate insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION traded down $0.64 on Tuesday, reaching $46.36. The company had a trading volume of 1,461,270 shares, compared to its average volume of 2,305,209. Zions Bancorporation, National Association has a 12 month low of $28.90 and a 12 month high of $53.32. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11. The firm’s 50 day moving average price is $45.87 and its 200 day moving average price is $43.03. The stock has a market capitalization of $6.85 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 2.81 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping 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 company had revenue of $776.00 million during the quarter, compared to analyst estimates of $761.61 million. During the same period in the previous year, the firm earned $1.11 earnings per share. Zions Bancorporation, National Association’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that Zions Bancorporation, National Association will post 4.53 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.64 annualized dividend and a yield of 3.54%. Zions Bancorporation, National Association’s payout ratio is currently 41.21%.

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.