First Trust Direct Indexing L.P. Sells 313 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

First Trust Direct Indexing L.P. lowered its stake in Zions Bancorporation, National Association (NASDAQ:ZION) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,934 shares of the bank’s stock after selling 313 shares during the period. First Trust Direct Indexing L.P.’s holdings in Zions Bancorporation, National Association were worth $524,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Deutsche Bank AG lifted its holdings in Zions Bancorporation, National Association by 22.1% in the 3rd quarter. Deutsche Bank AG now owns 389,686 shares of the bank’s stock worth $13,596,000 after buying an additional 70,461 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Zions Bancorporation, National Association by 55.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,262 shares of the bank’s stock worth $2,644,000 after buying an additional 21,551 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Zions Bancorporation, National Association by 119.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after acquiring an additional 1,259,571 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Zions Bancorporation, National Association during the fourth quarter worth about $1,268,000. Finally, Nordea Investment Management AB grew its stake in shares of Zions Bancorporation, National Association by 55.2% in the 4th quarter. Nordea Investment Management AB now owns 264,384 shares of the bank’s stock worth $11,678,000 after buying an additional 94,077 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 7,500 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $40.81, for a total transaction of $306,075.00. Following the completion of the transaction, the executive vice president now owns 44,056 shares in the company, valued at $1,797,925.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Alan M. Forney sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total value of $65,520.00. Following the completion of the sale, the chief executive officer now directly owns 22,181 shares in the company, valued at $968,866.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 7,500 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $40.81, for a total transaction of $306,075.00. Following the transaction, the executive vice president now owns 44,056 shares in the company, valued at approximately $1,797,925.36. The disclosure for this sale can be found here. Insiders have sold a total of 15,429 shares of company stock valued at $629,298 in the last quarter. 2.22% of the stock is currently owned by insiders.

Zions Bancorporation, National Association Stock Up 2.1 %

Shares of ZION opened at $43.62 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. Zions Bancorporation, National Association has a 12-month low of $18.26 and a 12-month high of $46.15. The business’s 50 day moving average is $41.10 and its 200 day moving average is $39.61. The company has a market capitalization of $6.44 billion, a PE ratio of 10.96 and a beta of 1.13.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Friday, April 26th. The bank reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $747.21 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. During the same quarter in the prior year, the company posted $1.33 EPS. Research analysts expect that Zions Bancorporation, National Association will post 4.38 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio is presently 41.21%.

Analyst Upgrades and Downgrades

Several research firms have commented on ZION. Truist Financial reissued a “hold” rating and issued a $46.00 target price on shares of Zions Bancorporation, National Association in a report on Monday, April 1st. Royal Bank of Canada increased 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 note on Tuesday, April 23rd. Evercore ISI lifted their price objective 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. Stephens raised their price target on shares of Zions Bancorporation, National Association from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, January 23rd. Finally, Robert W. Baird decreased their price objective on shares of 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. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus price target of $43.16.

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.