Allworth Financial LP Lowers Position in Zions Bancorporation, N.A. (NASDAQ:ZION)

Allworth Financial LP trimmed its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 75.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,544 shares of the bank’s stock after selling 4,756 shares during the period. Allworth Financial LP’s holdings in Zions Bancorporation, N.A. were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at $7,739,000. HighTower Advisors LLC lifted its stake in Zions Bancorporation, N.A. by 2.8% in the fourth quarter. HighTower Advisors LLC now owns 67,308 shares of the bank’s stock valued at $3,651,000 after buying an additional 1,861 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Zions Bancorporation, N.A. by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after acquiring an additional 183 shares in the last quarter. Swiss National Bank raised its holdings in Zions Bancorporation, N.A. by 0.8% during the fourth quarter. Swiss National Bank now owns 290,500 shares of the bank’s stock worth $15,760,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $33,961,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZION. Stephens decreased their target price on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Zions Bancorporation, N.A. in a research note on Wednesday, May 21st. They set an “underperform” rating and a $40.00 price objective for the company. Wall Street Zen raised Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Royal Bank Of Canada decreased their price objective on Zions Bancorporation, N.A. from $63.00 to $53.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 22nd. Finally, Argus upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.50.

Zions Bancorporation, N.A. Stock Up 2.4%

ZION stock opened at $56.41 on Friday. The stock’s fifty day simple moving average is $50.34 and its two-hundred day simple moving average is $50.79. The stock has a market cap of $8.32 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.66 and a beta of 0.90. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Zions Bancorporation, N.A. had a return on equity of 13.53% and a net margin of 16.08%. The business had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $792.49 million. During the same period in the previous year, the business earned $0.96 earnings per share. Analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Thursday, May 15th. Zions Bancorporation, N.A.’s payout ratio is currently 33.59%.

Zions Bancorporation, N.A. 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.