Zions Bancorporation, N.A. $ZION Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 25.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,052,131 shares of the bank’s stock after selling 355,126 shares during the quarter. Wellington Management Group LLP’s holdings in Zions Bancorporation, N.A. were worth $72,797,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Beacon Pointe Advisors LLC purchased a new position in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $393,000. Empowered Funds LLC purchased a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $263,000. United Capital Financial Advisors LLC acquired a new stake in Zions Bancorporation, N.A. in the second quarter valued at $661,000. Centaurus Financial Inc. acquired a new stake in shares of Zions Bancorporation, N.A. in the second quarter valued at about $321,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $3,408,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the sale, the president owned 73,043 shares of the company’s stock, valued at $5,159,027.09. The trade was a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott A. Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the sale, the executive vice president owned 32,890 shares in the company, valued at approximately $2,381,893.80. This represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,787 shares of company stock valued at $6,283,858 in the last quarter. Company insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZION. Royal Bank Of Canada lifted their price target on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Robert W. Baird raised their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Evercore cut shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 target price on the stock. in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their target price on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, Truist Financial boosted their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $68.02 on Thursday. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34. The business has a 50 day simple moving average of $69.81 and a 200-day simple moving average of $63.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $877.44 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 30th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the bank to reacquire up to 0.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a $0.48 dividend. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

Zions Bancorporation, N.A. Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle?market firms and high?net?worth clients. Its service portfolio includes deposit accounts, cash?management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.