Hartford Investment Management Co. reduced its position in Zions Bancorporation, National Association (NASDAQ:ZION)


Hartford Investment Management Co. decreased its stake in Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating ) by 10.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,513 shares of the bank’s stock after selling 1,726 shares during the quarter. Hartford Investment Management Co.’s holdings. in Zions Bancorporation, National Association were worth $951,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Retirement Planning Co of New England Inc. acquired a new position in Zions Bancorporation, National Association in the 4th quarter worth about $53,000. Eagle Bay Advisors LLC raised its stake in Zions Bancorporation, National Association by 28.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,000 shares of the bank’s stock valued at $63,000 after buying an additional 220 shares in the last quarter. CM Bidwell & Associates Ltd. purchased a new stake in Zions Bancorporation, National Association in the 4th quarter valued at approximately $66,000. Smith Group Asset Management LLC raised its position in Zions Bancorporation, National Association by 109.4% in the fourth quarter. Smith Group Asset Management LLC now owns 1,206 shares of the bank’s stock valued at $76,000 after purchasing an additional 630 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in Zions Bancorporation, National Association in the fourth quarter valued at approximately $81,000. The hedge fund and other institutional investors own 82.24% of the company’s stock.

Shares of Zions Bancorporation, National Association stock opened at $51.38 on Tuesday. The company has a fifty day moving average price of $54.39 and a 200 day moving average price of $62.48. The company has a current ratio of 0.71, a quick ratio of 0.71, and a debt-to-equity ratio of 0.12. Zions Bancorporation, National Association has a twelve month low of $47.06 and a twelve month high of $75.44. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 7.67 and a beta of 1.29.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating ) last posted its earnings results on Monday, April 25th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.12. The business had revenue of $694.00 million for the quarter, compared to analyst estimates of $700.11 million. Zions Bancorporation, National Association had a net margin of 34.40% and a return on equity of 14.53%. During the same quarter in the previous year, the business reported $1.90 EPS. analysts predict that Zions Bancorporation, National Association will post 5.68 earnings per share for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a stock repurchase plan on Friday, April 29th that permits the company to repurchase $50.00 million in outstanding shares. This buyback authorization allows the bank to buy back up to 0.6% of its shares through open market purchases. Stock buyback plans are usually an indication that a company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 19th were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $1.52 annual dividend and a dividend yield of 2.96%. Zions Bancorporation, National Association’s payout ratio is currently 24.76%.

In other news, EVP Scott A. Law sold 713 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $54.16, for a total transaction of $38,616.08. Following the transaction, the executive vice president now owns 19,424 shares in the company, valued at approximately $1,052,003.84. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Also, SVP James R. Abbott bought 10,000 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was bought at an average price of $57.03 per share, for a total transaction of $570,300.00. Following the completion of the purchase, the senior vice president now directly owns 77,918 shares in the company, valued at approximately $4,443,663.54. Disclosure of this purchase can be found here. Company insiders own 1.81% of the company’s shares.

Several research analysts recently commented on ZION shares. Barclays upped their target price on Zions Bancorporation, National Association from $73.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 26th. Robert W. Baird upgraded Zions Bancorporation, National Association from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $49.00 to $60.00 in a report on Monday, April 18th. JPMorgan Chase & Co. decreased their target price on Zions Bancorporation, National Association from $75.00 to $62.00 and set a “neutral” rating for the company in a report on Friday. Wolfe Research decreased their target price on Zions Bancorporation, National Association from $72.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Finally, StockNews.com began coverage on Zions Bancorporation, National Association in a report on Thursday, March 31st. They issued a “hold” rating on the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $68.32, according to MarketBeat .

About Zions Bancorporation, National Association (Get Rating)

Zions Bancorporation, National Association provides a variety of banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small and medium-sized businesses; Banking services for commercial real estate; municipal and public financial services; retail banking, including residential mortgages; trust services; Wealth management and private client banking; and capital markets products and services.

See also

Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating ) .

Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)



Get news and ratings for Zions Bancorporation National Association Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Zions Bancorporation National Association and related companies with MarketBeat.com ‘s FREE daily email newsletter.

Leave a Comment

Your email address will not be published.