TrinityPoint Wealth LLC Decreases Position in Zions Bancorporation, National Association (NASDAQ:ZION)

TrinityPoint Wealth LLC cut its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,998 shares of the bank’s stock after selling 354 shares during the period. TrinityPoint Wealth LLC’s holdings in Zions Bancorporation, National Association were worth $217,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after buying an additional 183 shares during the period. Covestor Ltd boosted its holdings in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock worth $46,000 after buying an additional 479 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after buying an additional 493 shares during the period. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association in the 4th quarter worth approximately $62,000. Finally, Natixis bought a new position in Zions Bancorporation, National Association in the 4th quarter worth approximately $102,000. 76.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ZION shares. Robert W. Baird cut their price objective on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price target on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Barclays raised their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a report on Wednesday, January 22nd. Royal Bank of Canada cut their price target on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley cut their price target on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.47.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the transaction, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. This trade represents a 43.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.22% of the stock is owned by corporate insiders.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $49.22 on Monday. Zions Bancorporation, National Association has a 52-week low of $39.32 and a 52-week high of $63.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $7.26 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.61 and a beta of 0.88. The company has a fifty day moving average of $46.48 and a 200-day moving average of $52.88.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same period in the previous year, the firm posted $0.96 EPS. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Thursday, May 15th. Zions Bancorporation, National Association’s payout ratio is presently 33.59%.

Zions Bancorporation, National Association declared that its Board of Directors has approved a share repurchase program on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, National Association Company 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.