Assenagon Asset Management S.A. Reduces Holdings in Zions Bancorporation, N.A. (NASDAQ:ZION)

Assenagon Asset Management S.A. reduced its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,348 shares of the bank's stock after selling 7,169 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Zions Bancorporation, N.A. worth $6,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ZION. EverSource Wealth Advisors LLC lifted its stake in Zions Bancorporation, N.A. by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after acquiring an additional 183 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Zions Bancorporation, N.A. by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock valued at $245,000 after purchasing an additional 224 shares in the last quarter. Jackson Creek Investment Advisors LLC increased its holdings in Zions Bancorporation, N.A. by 3.3% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank's stock valued at $490,000 after buying an additional 285 shares during the period. Blair William & Co. IL boosted its position in Zions Bancorporation, N.A. by 4.7% during the 4th quarter. Blair William & Co. IL now owns 6,713 shares of the bank's stock valued at $364,000 after acquiring an additional 303 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Zions Bancorporation, N.A. by 0.8% during the 4th quarter. Arizona State Retirement System now owns 42,839 shares of the bank's stock valued at $2,324,000 after acquiring an additional 322 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION traded up $0.89 during midday trading on Wednesday, hitting $48.17. The stock had a trading volume of 734,533 shares, compared to its average volume of 1,564,621. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $46.57 and a 200-day simple moving average of $51.28. The company has a market capitalization of $7.11 billion, a PE ratio of 9.41, a P/E/G ratio of 1.56 and a beta of 0.88. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. The business had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. During the same period in the prior year, the business earned $0.96 earnings per share. On average, sell-side analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, May 15th. Zions Bancorporation, N.A.'s payout ratio is currently 33.59%.

Zions Bancorporation, N.A. declared that its board has approved a stock repurchase program on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on ZION shares. Argus raised shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price on Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird decreased their price target on Zions Bancorporation, N.A. from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Zions Bancorporation, N.A. in a report on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 price target for the company. Finally, Truist Financial started coverage on shares of Zions Bancorporation, N.A. in a report on Tuesday, May 13th. They set a "hold" rating and a $52.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $57.94.

About Zions Bancorporation, N.A.

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.