Zions Bancorporation NA (NASDAQ:ZION) Position Trimmed by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. lowered its position in shares of Zions Bancorporation NA (NASDAQ:ZION) by 55.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,320 shares of the bank’s stock after selling 6,593 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Zions Bancorporation NA were worth $676,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smith Asset Management Group LP bought a new stake in shares of Zions Bancorporation NA in the 4th quarter worth about $27,000. CSat Investment Advisory L.P. grew its position in shares of Zions Bancorporation NA by 97.9% during the 4th quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock valued at $31,000 after buying an additional 373 shares during the last quarter. Doyle Wealth Management bought a new stake in shares of Zions Bancorporation NA during the 4th quarter valued at about $33,000. JOYN Advisors Inc. grew its position in shares of Zions Bancorporation NA by 2,100.0% during the 4th quarter. JOYN Advisors Inc. now owns 836 shares of the bank’s stock valued at $34,000 after buying an additional 798 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in shares of Zions Bancorporation NA during the 4th quarter valued at about $61,000. Institutional investors own 91.64% of the company’s stock.

In other Zions Bancorporation NA news, insider Jennifer Anne Smith sold 7,746 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $48.28, for a total value of $373,976.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Terry Alan Shirey sold 493 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $50.80, for a total transaction of $25,044.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,225 shares of company stock worth $1,537,180. Company insiders own 1.60% of the company’s stock.

A number of equities research analysts recently weighed in on ZION shares. Zacks Investment Research reaffirmed a “hold” rating and set a $43.00 price objective on shares of Zions Bancorporation NA in a research report on Monday, December 31st. BidaskClub raised shares of Zions Bancorporation NA from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Wedbush boosted their target price on shares of Zions Bancorporation NA from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, January 23rd. ValuEngine raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $63.00 price target on shares of Zions Bancorporation NA in a research note on Thursday, January 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.18.

Shares of ZION stock traded down $1.06 during trading hours on Friday, reaching $47.30. 2,392,700 shares of the stock traded hands, compared to its average volume of 2,348,517. Zions Bancorporation NA has a 1-year low of $38.08 and a 1-year high of $59.19. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $9.09 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.32 and a beta of 1.48.

Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 22nd. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. Zions Bancorporation NA had a net margin of 29.14% and a return on equity of 12.57%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $712.48 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. Sell-side analysts predict that Zions Bancorporation NA will post 4.44 EPS for the current fiscal year.

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About Zions Bancorporation NA

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

Further Reading: Outstanding Shares, Buying and Selling Stocks

Institutional Ownership by Quarter for Zions Bancorporation NA (NASDAQ:ZION)

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