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

Wellington Management Group LLP trimmed its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 48.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,765 shares of the bank's stock after selling 47,897 shares during the quarter. Wellington Management Group LLP's holdings in Zions Bancorporation, National Association were worth $1,806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Zions Bancorporation, National Association by 4.3% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,392 shares of the bank's stock valued at $274,000 after acquiring an additional 221 shares during the last quarter. Creative Planning raised its position in shares of Zions Bancorporation, National Association by 2.5% during the 2nd quarter. Creative Planning now owns 11,260 shares of the bank's stock valued at $573,000 after acquiring an additional 275 shares in the last quarter. Empirical Finance LLC raised its position in shares of Zions Bancorporation, National Association by 7.6% during the 4th quarter. Empirical Finance LLC now owns 4,240 shares of the bank's stock valued at $208,000 after acquiring an additional 301 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Zions Bancorporation, National Association by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,896 shares of the bank's stock valued at $2,229,000 after acquiring an additional 330 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Zions Bancorporation, National Association by 7.5% in the fourth quarter. Mackenzie Financial Corp now owns 4,881 shares of the bank's stock worth $240,000 after buying an additional 340 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION traded up $0.25 during trading hours on Thursday, reaching $43.40. The company had a trading volume of 1,959,424 shares, compared to its average volume of 3,325,912. The stock has a 50-day moving average of $40.86 and a two-hundred day moving average of $38.36. Zions Bancorporation, National Association has a one year low of $18.26 and a one year high of $46.15. The firm has a market capitalization of $6.41 billion, a PE ratio of 9.98 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.88 by ($0.10). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $754.81 million. Zions Bancorporation, National Association had a return on equity of 15.33% and a net margin of 14.71%. During the same period in the prior year, the firm posted $1.84 EPS. Analysts forecast that Zions Bancorporation, National Association will post 4.32 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Wednesday, February 14th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $45.00 price target on shares of Zions Bancorporation, National Association in a report on Tuesday, January 23rd. Barclays boosted their target price on Zions Bancorporation, National Association from $35.00 to $47.00 and gave the stock an "underweight" rating in a report on Tuesday, January 2nd. Robert W. Baird reduced their target price on Zions Bancorporation, National Association from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, January 23rd. Truist Financial downgraded Zions Bancorporation, National Association from a "buy" rating to a "hold" rating and dropped their price target for the stock from $51.00 to $46.00 in a research report on Friday, January 5th. Finally, Stephens lifted their price target on Zions Bancorporation, National Association from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $41.16.

Insider Activity

In related news, VP A Scott Anderson sold 4,093 shares of the business's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $44.25, for a total transaction of $181,115.25. Following the completion of the transaction, the vice president now owns 14,665 shares in the company, valued at $648,926.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Harris H. Simmons purchased 3,600 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $38.99 per share, for a total transaction of $140,364.00. Following the purchase, the chief executive officer now owns 1,261,866 shares in the company, valued at approximately $49,200,155.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP A Scott Anderson sold 4,093 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $44.25, for a total transaction of $181,115.25. Following the sale, the vice president now owns 14,665 shares in the company, valued at $648,926.25. The disclosure for this sale can be found here. Insiders have sold 18,022 shares of company stock valued at $744,893 over the last 90 days. 2.22% of the stock is owned by company insiders.

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.