Wellington Management Group LLP Cuts Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Wellington Management Group LLP trimmed its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 466,338 shares of the bank's stock after selling 55,630 shares during the period. Wellington Management Group LLP owned about 0.32% of Zions Bancorporation, National Association worth $25,299,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ZION. EverSource Wealth Advisors LLC grew its holdings in Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after acquiring an additional 183 shares in the last quarter. Covestor Ltd lifted its position 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 worth $46,000 after purchasing an additional 479 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock worth $49,000 after purchasing an additional 493 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth $62,000. Finally, Natixis purchased a new position in Zions Bancorporation, National Association in the fourth quarter valued at $102,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen cut Zions Bancorporation, National Association from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Morgan Stanley lowered 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 report on Thursday, March 13th. Wells Fargo & Company cut their price objective on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Argus upgraded shares of Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a report on Monday, April 28th. Finally, Stephens dropped their target price 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 investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION traded down $0.67 during mid-day trading on Wednesday, hitting $47.58. 739,811 shares of the company were exchanged, compared to its average volume of 1,579,089. The stock has a 50 day simple moving average of $46.00 and a 200-day simple moving average of $52.06. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 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 the consensus estimate 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 prior year, the firm earned $0.96 EPS. On average, sell-side analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

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

Zions Bancorporation, National Association Dividend Announcement

The company 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 3.61%. Zions Bancorporation, National Association's dividend payout ratio is currently 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.