Baird Financial Group Inc. Purchases Shares of 7,000 Zions Bancorporation, National Association (NASDAQ:ZION)

Baird Financial Group Inc. purchased a new stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,000 shares of the bank's stock, valued at approximately $380,000.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $73,542,000. Balyasny Asset Management L.P. lifted its holdings in shares of Zions Bancorporation, National Association by 249.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock worth $88,130,000 after acquiring an additional 1,159,888 shares during the last quarter. Freestone Grove Partners LP bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $51,116,000. Boston Partners bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $33,961,000. Finally, First Trust Advisors LP lifted its holdings in shares of Zions Bancorporation, National Association by 20.8% during the 4th quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after acquiring an additional 390,601 shares during the last quarter. 76.84% of the stock is owned by institutional investors.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the transaction, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.22% of the stock is owned by corporate insiders.

Zions Bancorporation, National Association Price Performance

ZION stock opened at $49.22 on Friday. The firm's 50-day moving average price is $46.48 and its two-hundred day moving average price is $52.87. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 1.61 and a beta of 0.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm had revenue of $795.00 million for the quarter, compared to analysts' expectations of $792.49 million. During the same quarter in the previous year, the company earned $0.96 earnings per share. As a group, equities analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio is currently 33.59%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Argus raised shares of Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research note on Monday, April 28th. Truist Financial assumed coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday. They issued a "hold" rating and a $52.00 price target for the company. Stephens lowered their price target 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 note on Tuesday, April 22nd. Robert W. Baird lowered their price target 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. Finally, Wells Fargo & Company lowered their price target on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $58.47.

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.

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