Envestnet Asset Management Inc. Sells 4,225 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION)

Envestnet Asset Management Inc. decreased its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 8.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 43,608 shares of the bank’s stock after selling 4,225 shares during the period. Envestnet Asset Management Inc.’s holdings in Zions Bancorporation, N.A. were worth $2,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZION. Curat Global LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at $25,000. Covestor Ltd increased its position in shares of Zions Bancorporation, N.A. by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after buying an additional 479 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at $50,000. CX Institutional bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at $53,000. Finally, UMB Bank n.a. increased its position in shares of Zions Bancorporation, N.A. by 155.0% in the 1st quarter. UMB Bank n.a. now owns 1,395 shares of the bank’s stock valued at $70,000 after buying an additional 848 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZION shares. Argus upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Truist Financial upped their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada upped their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.78.

Zions Bancorporation, N.A. Trading Down 1.1%

Zions Bancorporation, N.A. stock opened at $54.77 on Wednesday. The firm has a 50-day moving average of $51.46 and a 200-day moving average of $50.84. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.57 and a beta of 0.90.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The company had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. During the same period in the prior year, the business posted $1.28 EPS. On average, equities analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $0.43 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.14%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 31.44%.

About Zions Bancorporation, N.A.

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.