Focus Partners Wealth Sells 5,566 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Focus Partners Wealth lessened its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 33.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,219 shares of the bank's stock after selling 5,566 shares during the period. Focus Partners Wealth's holdings in Zions Bancorporation, National Association were worth $609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fiduciary Trust Co acquired a new stake in shares of Zions Bancorporation, National Association during the 4th quarter valued at $220,000. Deutsche Bank AG raised its stake in Zions Bancorporation, National Association by 343.3% during the 4th quarter. Deutsche Bank AG now owns 275,575 shares of the bank's stock valued at $14,950,000 after purchasing an additional 213,405 shares during the period. Brevan Howard Capital Management LP raised its stake in Zions Bancorporation, National Association by 115.0% during the 4th quarter. Brevan Howard Capital Management LP now owns 46,657 shares of the bank's stock valued at $2,531,000 after purchasing an additional 24,958 shares during the period. Captrust Financial Advisors raised its stake in Zions Bancorporation, National Association by 0.7% during the 4th quarter. Captrust Financial Advisors now owns 148,453 shares of the bank's stock valued at $8,054,000 after purchasing an additional 1,083 shares during the period. Finally, Baird Financial Group Inc. acquired a new stake in Zions Bancorporation, National Association during the 4th quarter valued at $380,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analyst Weigh In

ZION has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada cut 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. Argus raised shares of Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Monday, April 28th. Robert W. Baird cut their target price on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wall Street Zen downgraded shares of Zions Bancorporation, National Association from a "hold" rating to a "sell" rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association Stock Down 0.8%

NASDAQ:ZION traded down $0.38 during trading hours on Friday, reaching $46.58. The company's stock had a trading volume of 1,350,474 shares, compared to its average volume of 1,580,237. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a one year low of $39.32 and a one year high of $63.22. The business's 50-day moving average is $46.42 and its 200-day moving average is $52.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.

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

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio is presently 33.59%.

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

Zions Bancorporation, National Association 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.