Zions Bancorporation, N.A. $ZION Shares Sold by Cwm LLC

Key Points

• Cwm LLC reduced its stake in Zions Bancorporation, N.A. by 33.6%, selling over 21,000 shares, bringing their holdings to 41,879 shares valued at approximately $2.175 million.
• Zions Bancorporation recently announced a quarterly dividend of $0.45 per share, marking a slight increase from the previous $0.43 dividend.
• The stock has shown a 5.8% increase recently and has a market capitalization of $7.33 billion with a current stock price of $49.67.

Cwm LLC cut its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 33.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,879 shares of the bank's stock after selling 21,201 shares during the period. Cwm LLC's holdings in Zions Bancorporation, N.A. were worth $2,175,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $25,000. New Age Alpha Advisors LLC acquired a new position in Zions Bancorporation, N.A. during the 1st quarter valued at about $40,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Zions Bancorporation, N.A. during the 1st quarter valued at about $52,000. Ameritas Advisory Services LLC acquired a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at about $65,000. Finally, Bridge Generations Wealth Management LLC acquired a new position in Zions Bancorporation, N.A. during the 1st quarter valued at about $65,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Up 5.8%

ZION stock opened at $49.67 on Friday. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.05 and a beta of 0.93. The firm's 50-day moving average is $55.87 and its two-hundred day moving average is $51.51. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The company had revenue of $705.00 million for the quarter. On average, analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Zions Bancorporation, N.A. in a research note on Wednesday, October 8th. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their target price for the company from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Baird R W raised shares of Zions Bancorporation, N.A. from a "hold" rating to a "strong-buy" rating in a research note on Friday. DA Davidson boosted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley boosted their price target on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $61.33.

Zions Bancorporation, N.A. Company 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.

Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.