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

Vaughan Nelson Investment Management L.P. reduced its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,594,620 shares of the bank's stock after selling 103,910 shares during the quarter. Zions Bancorporation, National Association accounts for approximately 1.3% of Vaughan Nelson Investment Management L.P.'s holdings, making the stock its 22nd biggest position. Vaughan Nelson Investment Management L.P. owned about 1.76% of Zions Bancorporation, National Association worth $129,368,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Curat Global LLC bought a new position in shares of Zions Bancorporation, National Association during the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock valued at $29,000 after acquiring an additional 183 shares during the period. Covestor Ltd grew its stake in shares of Zions Bancorporation, National Association by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock valued at $46,000 after acquiring an additional 479 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock valued at $49,000 after acquiring an additional 493 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in shares of Zions Bancorporation, National Association during the 1st quarter valued at approximately $50,000. 76.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Robert W. Baird cut their price objective on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Stephens dropped their price target on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley dropped their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Finally, Wall Street Zen upgraded Zions Bancorporation, National Association from a "sell" rating to a "hold" rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association Trading Down 2.6%

NASDAQ:ZION traded down $1.29 during midday trading on Friday, hitting $47.43. 1,093,084 shares of the company traded hands, compared to its average volume of 1,570,220. The firm's fifty day moving average is $46.42 and its 200-day moving average is $51.46. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22. The firm has a market capitalization of $7.00 billion, a P/E ratio of 9.58, a P/E/G ratio of 1.61 and a beta of 0.88. 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 (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, sell-side analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

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

Zions Bancorporation, National Association Announces Dividend

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

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.