Zions Bancorporation, National Association (NASDAQ:ZION) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 87.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & 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 SEC filing.

Several other large investors have also made changes to their positions in the company. Fisher Asset Management LLC purchased a new position in shares of Zions Bancorporation, National Association in the 4th quarter valued at $389,000. Strategic Financial Concepts LLC purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth about $2,538,000. Polymer Capital Management US LLC acquired a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at about $229,000. SG Americas Securities LLC boosted its holdings in Zions Bancorporation, National Association by 244.8% in the 4th quarter. SG Americas Securities LLC now owns 28,405 shares of the bank's stock worth $1,541,000 after acquiring an additional 20,167 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Zions Bancorporation, National Association in the fourth quarter valued at approximately $4,237,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ:ZION traded up $0.32 on Thursday, reaching $46.96. 1,635,570 shares of the company's stock were exchanged, compared to its average volume of 1,579,999. The business's 50-day moving average is $46.50 and its two-hundred day moving average is $52.79. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business had revenue of $795.00 million for the quarter, compared to the consensus estimate of $792.49 million. During the same quarter last year, the business posted $0.96 EPS. As a group, equities research analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a $0.43 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.66%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 33.59%.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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. Morgan Stanley lowered their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company cut their price target on 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. Barclays increased their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada lowered their price objective on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus 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.