Thompson Investment Management Inc. Trims Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Thompson Investment Management Inc. decreased its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 30.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,892 shares of the bank's stock after selling 6,871 shares during the quarter. Thompson Investment Management Inc.'s holdings in Zions Bancorporation, National Association were worth $792,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Choreo LLC boosted its holdings in shares of Zions Bancorporation, National Association by 84.0% in the 4th quarter. Choreo LLC now owns 12,079 shares of the bank's stock valued at $656,000 after acquiring an additional 5,513 shares during the last quarter. Savant Capital LLC boosted its holdings in Zions Bancorporation, National Association by 12.0% in the fourth quarter. Savant Capital LLC now owns 7,302 shares of the bank's stock valued at $396,000 after purchasing an additional 780 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Zions Bancorporation, National Association during the 4th quarter worth about $2,538,000. CIBC Asset Management Inc raised its stake in shares of Zions Bancorporation, National Association by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock valued at $245,000 after buying an additional 224 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 13.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,802 shares of the bank's stock valued at $152,000 after buying an additional 332 shares during the period. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION traded down $0.19 during trading hours on Thursday, hitting $48.72. 987,374 shares of the company's stock traded hands, compared to its average volume of 1,568,906. The company has a market capitalization of $7.19 billion, a PE ratio of 9.84, a PEG ratio of 1.61 and a beta of 0.88. 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 has a 52-week low of $39.32 and a 52-week high of $63.22. The firm's 50-day moving average is $46.32 and its 200-day moving average is $51.61.

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

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.53%. Zions Bancorporation, National Association's payout ratio is 33.59%.

Zions Bancorporation, National Association declared that its board has authorized a stock repurchase plan on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZION. Jefferies Financial Group began coverage on Zions Bancorporation, National Association in a report on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 price target for the company. Argus raised shares of Zions Bancorporation, National Association 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. 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 target on the stock. Wells Fargo & Company decreased their price objective on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley lowered their target price 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 note on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of "Hold" and an average price target of $57.94.

About Zions Bancorporation, National Association

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.