Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 466,338 shares of the bank's stock after selling 55,630 shares during the period. Wellington Management Group LLP owned 0.32% of Zions Bancorporation, National Association worth $25,299,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ZION. EverSource Wealth Advisors LLC increased its position 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 purchasing an additional 183 shares during the last quarter. Covestor Ltd boosted its holdings in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock valued at $46,000 after purchasing an additional 479 shares during the period. SRS Capital Advisors Inc. lifted its position in Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock valued at $49,000 after purchasing an additional 493 shares during the last quarter. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association in the fourth quarter valued at $62,000. Finally, Natixis bought a new stake in Zions Bancorporation, National Association in the 4th quarter worth approximately $102,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, National Association Trading Down 1.0%

Shares of ZION stock traded down $0.49 on Wednesday, reaching $47.76. 215,756 shares of the company's stock were exchanged, compared to its average volume of 1,575,123. The company's fifty day simple moving average is $46.03 and its 200 day simple moving average is $52.09. The stock has a market capitalization of $7.05 billion, a PE ratio of 9.65, 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 has a 52 week low of $39.32 and a 52 week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly 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 business had revenue of $795.00 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.96 earnings per share. As a group, analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association declared that its board has initiated 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 purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $0.43 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.60%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 33.59%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZION. Robert W. Baird cut their price target 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. Truist Financial initiated coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, May 13th. They set a "hold" rating and a $52.00 price objective for the company. Stephens decreased their price objective on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods reduced their price objective 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. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $57.94.

About Zions Bancorporation, National Association

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.