Voloridge Investment Management LLC Trims Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Voloridge Investment Management LLC lessened its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 19.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666,806 shares of the bank’s stock after selling 157,884 shares during the quarter. Voloridge Investment Management LLC owned 0.45% of Zions Bancorporation, National Association worth $36,174,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ZION. EverSource Wealth Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after buying an additional 183 shares in the last quarter. Covestor Ltd grew its position in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after acquiring an additional 479 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after purchasing an additional 493 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth about $62,000. Finally, Natixis purchased a new position in shares of Zions Bancorporation, National Association in the fourth quarter valued at approximately $102,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZION. Argus raised shares of Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Monday, April 28th. Morgan Stanley cut their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Stephens decreased their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Zions Bancorporation, National Association in a research note on Wednesday. They set an “underperform” rating and a $40.00 target price for the company. Finally, Truist Financial started coverage on Zions Bancorporation, National Association in a research report on Tuesday, May 13th. They issued a “hold” rating and a $52.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.94.

Zions Bancorporation, National Association Stock Performance

ZION stock opened at $46.64 on Thursday. The stock’s fifty day moving average is $46.50 and its two-hundred day moving average is $52.79. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a 1 year low of $39.32 and a 1 year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same period last year, the firm earned $0.96 EPS. On average, research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.69%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 33.59%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share buyback program on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association 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.