Avaii Wealth Management LLC Has $338,000 Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Avaii Wealth Management LLC cut its stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 21.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,772 shares of the bank’s stock after selling 1,899 shares during the quarter. Avaii Wealth Management LLC’s holdings in Zions Bancorporation, National Association were worth $338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ZION. Curat Global LLC acquired a new stake in Zions Bancorporation, National Association in the first quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 183 shares during the period. Covestor Ltd increased its holdings in Zions Bancorporation, National Association by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after purchasing an additional 479 shares during the period. SRS Capital Advisors Inc. increased its holdings in Zions Bancorporation, National Association by 120.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after purchasing an additional 493 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in Zions Bancorporation, National Association in the first quarter valued at $50,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ZION. Robert W. Baird cut their price target on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research report on Saturday. 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 on the stock in a research report on Tuesday, April 22nd. Stephens cut their price target on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research 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 on the stock in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $57.94.

Zions Bancorporation, National Association Price Performance

ZION stock opened at $47.43 on Friday. Zions Bancorporation, National Association has a 1 year low of $39.32 and a 1 year high of $63.22. The stock has a market capitalization of $7.00 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day moving average is $46.42 and its 200-day moving average is $51.52.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $792.49 million. During the same quarter last year, the firm earned $0.96 EPS. Equities research analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a $0.43 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.63%. Zions Bancorporation, National Association’s payout ratio is 33.59%.

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.