Wealth Enhancement Advisory Services LLC Cuts Stock Holdings in Zions Bancorporation, N.A. $ZION

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Zions Bancorporation, N.A. by 19.8% during Q2, now holding 56,890 shares worth approximately $3.16 million.
• Analysts have raised their price targets for Zions Bancorporation, N.A., with Robert W. Baird setting a new target of $65.00, maintaining a "neutral" rating.
• Zions Bancorporation, N.A. increased its quarterly dividend to $0.45 per share from the previous $0.43, representing an annualized yield of 3.1%.

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 19.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,890 shares of the bank's stock after selling 14,046 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Zions Bancorporation, N.A. were worth $3,157,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Wedmont Private Capital increased its holdings in shares of Zions Bancorporation, N.A. by 2.6% in the 2nd quarter. Wedmont Private Capital now owns 10,136 shares of the bank's stock valued at $564,000 after purchasing an additional 256 shares in the last quarter. Voya Investment Management LLC increased its holdings in Zions Bancorporation, N.A. by 57.6% in the first quarter. Voya Investment Management LLC now owns 138,377 shares of the bank's stock valued at $6,899,000 after buying an additional 50,597 shares in the last quarter. Strs Ohio purchased a new position in Zions Bancorporation, N.A. in the first quarter valued at about $1,371,000. Acadian Asset Management LLC increased its holdings in Zions Bancorporation, N.A. by 20.2% in the first quarter. Acadian Asset Management LLC now owns 27,936 shares of the bank's stock valued at $1,392,000 after buying an additional 4,694 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Zions Bancorporation, N.A. by 465.2% in the first quarter. Intech Investment Management LLC now owns 54,987 shares of the bank's stock valued at $2,742,000 after buying an additional 45,259 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZION. Robert W. Baird raised their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. TD Cowen began coverage on Zions Bancorporation, N.A. in a research report on Thursday. They issued a "hold" rating and a $64.00 price target for the company. Jefferies Financial Group upgraded Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and raised their price target for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Truist Financial raised their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of "Hold" and an average target price of $61.10.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION opened at $57.54 on Friday. The company has a market cap of $8.49 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.49 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The business has a fifty day simple moving average of $55.66 and a 200-day simple moving average of $50.94.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.31 by $0.27. The company had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.During the same quarter in the previous year, the business earned $1.28 EPS. Equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $0.45 dividend. The ex-dividend date was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.1%. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

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.

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