Zions Bancorporation, N.A. (NASDAQ:ZION) Shares Sold by Choreo LLC

Key Points

• Choreo LLC has reduced its stake in Zions Bancorporation by 47.5%, owning 6,347 shares valued at approximately $316,000 after selling 5,732 shares in the first quarter.
• In recent trading, Zions Bancorporation opened at $54.77 and has seen a one-year price range with a low of $39.32 and a high of $63.22.
• The bank recently reported an earnings per share (EPS) of $1.58, exceeding analysts' expectations by $0.27 with a revenue of $838 million for the quarter.

Choreo LLC lessened its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 47.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,347 shares of the bank's stock after selling 5,732 shares during the period. Choreo LLC's holdings in Zions Bancorporation, N.A. were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Curat Global LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at approximately $25,000. Covestor Ltd grew its stake in shares of Zions Bancorporation, N.A. by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock valued at $46,000 after buying an additional 479 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at approximately $50,000. CX Institutional purchased a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at approximately $53,000. Finally, Bridge Generations Wealth Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at approximately $65,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZION. Robert W. Baird increased their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Morgan Stanley increased their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. DA Davidson increased their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Truist Financial increased their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Stock Down 2.9%

Shares of ZION traded down $1.54 during midday trading on Friday, reaching $52.08. The stock had a trading volume of 1,451,079 shares, compared to its average volume of 1,548,889. The company's fifty day simple moving average is $51.85 and its two-hundred day simple moving average is $50.83. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.52 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. During the same period last year, the business earned $1.28 EPS. Equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. 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.