Focus Partners Wealth Has $609,000 Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Focus Partners Wealth trimmed its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 33.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,219 shares of the bank’s stock after selling 5,566 shares during the period. Focus Partners Wealth’s holdings in Zions Bancorporation, National Association were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 183 shares during the period. Covestor Ltd grew its stake 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 acquiring an additional 479 shares during the period. SRS Capital Advisors Inc. grew its stake 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 acquiring an additional 493 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth about $62,000. Finally, Natixis acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth about $102,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $49.08 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $46.50 and its two-hundred day moving average price is $52.86. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (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 analyst estimates 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 quarter in the prior year, the company earned $0.96 earnings per share. On average, analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a $0.43 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.50%. Zions Bancorporation, National Association’s dividend payout ratio is 33.59%.

Zions Bancorporation, National Association announced that its board has initiated a stock repurchase plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ZION shares. Robert W. Baird reduced their price objective on Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. DA Davidson upped their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods reduced their price objective on Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada reduced their price objective on Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 22nd. 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 company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus target price of $58.47.

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.