Citigroup Inc. Decreases Position in Zions Bancorporation, N.A. $ZION

Key Points

• Citigroup Inc. has reduced its stake in Zions Bancorporation, N.A. by 14.9%, now holding approximately 0.15% of the bank with an estimated value of $10.84 million.
• Zions Bancorporation reported quarterly earnings of $1.58 per share, exceeding analysts' expectations and generating revenue of $838 million.
• The company announced an increase in its quarterly dividend to $0.45, reflecting a 3.4% yield and marking a rise from its previous dividend payout.

Citigroup Inc. cut its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 14.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 217,363 shares of the bank's stock after selling 38,192 shares during the quarter. Citigroup Inc. owned about 0.15% of Zions Bancorporation, N.A. worth $10,838,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Balyasny Asset Management L.P. raised its stake in Zions Bancorporation, N.A. by 249.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after acquiring an additional 1,159,888 shares during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $51,116,000. GAMMA Investing LLC raised its stake in shares of Zions Bancorporation, N.A. by 5,690.4% during the first quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock worth $27,468,000 after purchasing an additional 541,389 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Zions Bancorporation, N.A. by 20.8% during the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after purchasing an additional 390,601 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Zions Bancorporation, N.A. by 413.0% in the 4th quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock valued at $26,222,000 after buying an additional 389,148 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock traded down $0.28 during mid-day trading on Thursday, reaching $53.50. The company had a trading volume of 1,067,730 shares, compared to its average volume of 1,453,311. 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 capitalization of $7.90 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.40 and a beta of 0.93. The stock's 50-day simple moving average is $53.17 and its 200-day simple moving average is $50.33.

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 return on equity of 13.76% and a net margin of 16.98%.The business had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. During the same quarter in the previous year, the company earned $1.28 EPS. On average, equities analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.4%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 32.91%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ZION. DA Davidson boosted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price target on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada boosted their target price on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen raised Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $60.78.

Zions Bancorporation, N.A. Company 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.