Wedge Capital Management L L P NC Sells 17,624 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Wedge Capital Management L L P NC lowered its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 658,320 shares of the bank's stock after selling 17,624 shares during the quarter. Wedge Capital Management L L P NC owned 0.45% of Zions Bancorporation, National Association worth $32,824,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ZION. UMB Bank n.a. grew its holdings in shares of Zions Bancorporation, National Association by 155.0% in the 1st quarter. UMB Bank n.a. now owns 1,395 shares of the bank's stock valued at $70,000 after buying an additional 848 shares during the period. Princeton Global Asset Management LLC acquired a new position in Zions Bancorporation, National Association in the first quarter valued at about $50,000. Gateway Investment Advisers LLC increased its holdings in shares of Zions Bancorporation, National Association by 3.1% in the first quarter. Gateway Investment Advisers LLC now owns 33,467 shares of the bank's stock worth $1,669,000 after acquiring an additional 1,005 shares in the last quarter. Curat Global LLC bought a new stake in shares of Zions Bancorporation, National Association in the first quarter worth about $25,000. Finally, Sendero Wealth Management LLC raised its position in shares of Zions Bancorporation, National Association by 16.9% during the first quarter. Sendero Wealth Management LLC now owns 13,801 shares of the bank's stock worth $688,000 after purchasing an additional 1,998 shares during the period. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Stock Performance

Shares of ZION traded down $0.89 during midday trading on Wednesday, reaching $48.91. The stock had a trading volume of 1,500,173 shares, compared to its average volume of 1,574,878. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $46.04 and a 200-day simple moving average of $51.72. The firm has a market cap of $7.22 billion, a PE ratio of 9.88, a P/E/G ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a one year low of $39.32 and a one year high of $63.22.

Zions Bancorporation, National Association (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. The business had revenue of $795.00 million during the quarter, compared to analysts' expectations 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 company posted $0.96 earnings per share. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, May 15th. Zions Bancorporation, National Association's payout ratio is presently 33.59%.

Analysts Set New Price Targets

ZION has been the topic of several research analyst reports. Robert W. Baird dropped their target price on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen cut shares of Zions Bancorporation, National Association from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Wells Fargo & Company lowered their target price on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Zions Bancorporation, National Association in a report on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 price target on the stock. Finally, Truist Financial started coverage on Zions Bancorporation, National Association in a research report on Tuesday, May 13th. They issued a "hold" rating and a $52.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and an average price target of $57.94.

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.