Cresset Asset Management LLC Sells 29,441 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Cresset Asset Management LLC cut its stake in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 87.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,109 shares of the bank's stock after selling 29,441 shares during the period. Cresset Asset Management LLC's holdings in Zions Bancorporation, National Association were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Zions Bancorporation, National Association by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after buying an additional 285,588 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Zions Bancorporation, National Association by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock worth $369,295,000 after buying an additional 175,656 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Zions Bancorporation, National Association by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock valued at $264,902,000 after purchasing an additional 194,995 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Zions Bancorporation, National Association by 0.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock valued at $146,396,000 after purchasing an additional 14,070 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Zions Bancorporation, National Association by 20.8% in the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock valued at $123,016,000 after purchasing an additional 390,601 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Stock Performance

ZION stock traded down $0.38 during trading hours on Friday, reaching $46.58. The stock had a trading volume of 1,350,474 shares, compared to its average volume of 1,580,237. The stock has a market capitalization of $6.87 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a 50-day simple moving average of $46.42 and a 200 day simple moving average of $52.67. Zions Bancorporation, National Association has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its 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 company had revenue of $795.00 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.96 EPS. Analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio is presently 33.59%.

Zions Bancorporation, National Association announced that its board has initiated a share repurchase program on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

ZION has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Truist Financial assumed coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, May 13th. They issued a "hold" rating and a $52.00 target price for the company. Stephens reduced their price target 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. Jefferies Financial Group assumed coverage on shares of Zions Bancorporation, National Association in a report on Wednesday. They issued an "underperform" rating and a $40.00 price target for the company. Finally, Robert W. Baird reduced their price target on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.