Vaughan Nelson Investment Management L.P. Sells 103,910 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION)

Vaughan Nelson Investment Management L.P. cut its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,594,620 shares of the bank's stock after selling 103,910 shares during the period. Zions Bancorporation, N.A. accounts for 1.3% of Vaughan Nelson Investment Management L.P.'s holdings, making the stock its 22nd biggest holding. Vaughan Nelson Investment Management L.P. owned 1.76% of Zions Bancorporation, N.A. worth $129,368,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Zions Bancorporation, N.A. by 61.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 70,936 shares of the bank's stock valued at $3,537,000 after purchasing an additional 27,001 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new position in Zions Bancorporation, N.A. during the first quarter valued at approximately $287,000. CX Institutional purchased a new position in Zions Bancorporation, N.A. during the 1st quarter valued at approximately $53,000. SG Americas Securities LLC grew its holdings in Zions Bancorporation, N.A. by 459.6% during the 1st quarter. SG Americas Securities LLC now owns 158,961 shares of the bank's stock valued at $7,926,000 after buying an additional 130,556 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Zions Bancorporation, N.A. by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 11,049 shares of the bank's stock worth $551,000 after acquiring an additional 1,535 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ZION shares. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada dropped their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $53.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their target price on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group began coverage on shares of Zions Bancorporation, N.A. in a report on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 price target for the company. Finally, Robert W. Baird dropped their price target on Zions Bancorporation, N.A. from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $57.94.

Zions Bancorporation, N.A. Trading Up 1.9%

Zions Bancorporation, N.A. stock traded up $0.92 during mid-day trading on Wednesday, hitting $48.20. The company's stock had a trading volume of 757,311 shares, compared to its average volume of 1,564,819. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.83. The company has a 50 day moving average of $46.57 and a 200-day moving average of $51.28. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The stock has a market cap of $7.11 billion, a PE ratio of 9.40, a P/E/G ratio of 1.56 and a beta of 0.88.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. The firm had revenue of $795.00 million for the quarter, compared to analysts' expectations of $792.49 million. During the same period in the prior year, the business posted $0.96 earnings per share. On average, research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently announced 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, May 15th. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 33.59%.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock repurchase program on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

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.