SG Americas Securities LLC Boosts Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

SG Americas Securities LLC boosted its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 459.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,961 shares of the bank's stock after buying an additional 130,556 shares during the quarter. SG Americas Securities LLC owned approximately 0.11% of Zions Bancorporation, National Association worth $7,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at $389,000. Strategic Financial Concepts LLC bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at $2,538,000. Polymer Capital Management US LLC bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at $229,000. Proficio Capital Partners LLC bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at $4,237,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at $651,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock traded down $1.29 during midday trading on Friday, hitting $47.43. The stock had a trading volume of 1,093,084 shares, compared to its average volume of 1,570,220. 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 has a 52-week low of $39.32 and a 52-week high of $63.22. The firm's fifty day moving average is $46.42 and its two-hundred day moving average is $51.39. The company has a market capitalization of $7.00 billion, a PE ratio of 9.58, a P/E/G ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced 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 business had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. During the same period last year, the firm posted $0.96 EPS. On average, research analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a share repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 33.59%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ZION shares. Morgan Stanley reduced their price objective on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group started coverage on shares of Zions Bancorporation, National Association in a research report on Wednesday, May 21st. They set an "underperform" rating and a $40.00 price objective on the stock. Truist Financial started coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, May 13th. They set a "hold" rating and a $52.00 price objective 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 objective on the stock in a research report on Monday, April 28th. Finally, Wall Street Zen raised shares of Zions Bancorporation, National Association from a "sell" rating to a "hold" rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $57.94.

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.