Baird Financial Group Inc. Acquires New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Baird Financial Group Inc. purchased a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,000 shares of the bank's stock, valued at approximately $380,000.

Other hedge funds also recently modified their holdings of the company. Balyasny Asset Management L.P. raised its position in shares of Zions Bancorporation, National Association by 249.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after buying an additional 1,159,888 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Zions Bancorporation, National Association in the 4th quarter valued at approximately $979,000. BNP Paribas Financial Markets lifted its position in shares of Zions Bancorporation, National Association by 413.0% in the 4th quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock worth $26,222,000 after acquiring an additional 389,148 shares during the period. Algert Global LLC raised its stake in shares of Zions Bancorporation, National Association by 14.6% in the fourth quarter. Algert Global LLC now owns 105,179 shares of the bank's stock valued at $5,706,000 after purchasing an additional 13,395 shares in the last quarter. Finally, AXA S.A. lifted its position in Zions Bancorporation, National Association by 243.8% in the fourth quarter. AXA S.A. now owns 142,089 shares of the bank's stock worth $7,708,000 after purchasing an additional 100,759 shares during the period. 76.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ZION shares. Robert W. Baird dropped their price objective on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Argus raised Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Monday, April 28th. Truist Financial started coverage on Zions Bancorporation, National Association in a report on Tuesday, May 13th. They set a "hold" rating and a $52.00 price objective for the company. Royal Bank of Canada reduced their target price on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens dropped their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association Price Performance

Shares of ZION stock traded up $0.07 during trading hours on Thursday, reaching $46.71. 236,284 shares of the company were exchanged, compared to its average volume of 1,574,621. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 1.61 and a beta of 0.88. The stock's fifty day moving average is $46.50 and its two-hundred day moving average is $52.79. Zions Bancorporation, National Association has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same quarter in the prior year, the business earned $0.96 EPS. Sell-side analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 33.59%.

Zions Bancorporation, National Association announced that its Board of Directors has approved a share buyback program on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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.