Zions Bancorporation, National Association (NASDAQ:ZION) Stock Holdings Lowered by Voloridge Investment Management LLC

Voloridge Investment Management LLC trimmed its stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 19.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 666,806 shares of the bank's stock after selling 157,884 shares during the period. Voloridge Investment Management LLC owned approximately 0.45% of Zions Bancorporation, National Association worth $36,174,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Tidal Investments LLC grew its position in shares of Zions Bancorporation, National Association by 7.8% in the 4th quarter. Tidal Investments LLC now owns 5,718 shares of the bank's stock valued at $310,000 after buying an additional 413 shares during the last quarter. State of Wyoming purchased a new position in shares of Zions Bancorporation, National Association in the 4th quarter valued at $180,000. ProShare Advisors LLC grew its position in shares of Zions Bancorporation, National Association by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 6,912 shares of the bank's stock valued at $375,000 after buying an additional 473 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Zions Bancorporation, National Association by 48.8% in the 4th quarter. Quantinno Capital Management LP now owns 130,819 shares of the bank's stock valued at $7,097,000 after buying an additional 42,874 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Zions Bancorporation, National Association in the 4th quarter valued at $1,063,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ZION. Keefe, Bruyette & Woods dropped their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird lowered their price objective on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group began 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 began 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. Finally, Stephens lowered their price objective on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock traded up $0.62 during mid-day trading on Tuesday, hitting $47.20. The stock had a trading volume of 199,830 shares, compared to its average volume of 1,574,840. 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 fifty-two week low of $39.32 and a fifty-two week high of $63.22. The company's 50-day simple moving average is $46.37 and its 200-day simple moving average is $52.55. The firm has a market cap of $6.96 billion, a PE ratio of 9.54, a PEG ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its earnings results 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 company 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 quarter in the previous year, the business posted $0.96 earnings per share. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

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

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.64%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 33.59%.

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.