Wellington Management Group LLP Decreases Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Wellington Management Group LLP trimmed its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 26.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,847 shares of the bank’s stock after selling 13,918 shares during the period. Wellington Management Group LLP’s holdings in Zions Bancorporation, National Association were worth $1,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Kestra Private Wealth Services LLC raised its holdings in Zions Bancorporation, National Association by 1.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 22,288 shares of the bank’s stock valued at $978,000 after acquiring an additional 286 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 1.2% in the fourth quarter. Yousif Capital Management LLC now owns 26,161 shares of the bank’s stock valued at $1,148,000 after purchasing an additional 310 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Zions Bancorporation, National Association by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 63,896 shares of the bank’s stock valued at $2,229,000 after purchasing an additional 330 shares during the last quarter. Federated Hermes Inc. lifted its position in Zions Bancorporation, National Association by 105.4% during the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock worth $28,000 after buying an additional 331 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Zions Bancorporation, National Association by 2.0% during the fourth quarter. Fifth Third Bancorp now owns 23,523 shares of the bank’s stock worth $1,032,000 after buying an additional 462 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Price Performance

Shares of ZION opened at $43.32 on Tuesday. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 4.99 and a beta of 1.11. The firm’s fifty day simple moving average is $42.51 and its 200-day simple moving average is $41.94. Zions Bancorporation, National Association has a twelve month low of $26.69 and a twelve month high of $46.15. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.01.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Friday, April 26th. The bank reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same period last year, the company earned $1.33 EPS. Equities analysts forecast that Zions Bancorporation, National Association will post 4.37 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.79%. The ex-dividend date was Wednesday, May 15th. Zions Bancorporation, National Association’s payout ratio is 41.21%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore ISI lifted their price target on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on Zions Bancorporation, National Association in a research report on Wednesday, April 10th. They set a “hold” rating and a $47.00 price objective for the company. Royal Bank of Canada boosted their target price on Zions Bancorporation, National Association from $46.00 to $47.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. increased their target price on Zions Bancorporation, National Association from $49.50 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, UBS Group dropped their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and an average target price of $43.82.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the transaction, the executive vice president now directly owns 22,238 shares in the company, valued at $970,911.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $43.66, for a total transaction of $231,005.06. Following the transaction, the executive vice president now owns 22,238 shares of the company’s stock, valued at $970,911.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Alan M. Forney sold 1,500 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $43.68, for a total value of $65,520.00. Following the sale, the chief executive officer now owns 22,181 shares in the company, valued at approximately $968,866.08. The disclosure for this sale can be found here. Insiders sold 7,296 shares of company stock valued at $319,192 over the last three months. 2.22% of the stock is owned by corporate 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.