Artemis Investment Management LLP Sells 235,723 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Artemis Investment Management LLP lowered its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 36.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 403,110 shares of the bank’s stock after selling 235,723 shares during the quarter. Artemis Investment Management LLP owned 0.27% of Zions Bancorporation, National Association worth $17,488,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ZION. CVA Family Office LLC raised its stake in shares of Zions Bancorporation, National Association by 1.0% in the first quarter. CVA Family Office LLC now owns 24,783 shares of the bank’s stock valued at $1,076,000 after purchasing an additional 245 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Zions Bancorporation, National Association by 1.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 22,288 shares of the bank’s stock valued at $978,000 after buying an additional 286 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 1.2% during the 4th quarter. Yousif Capital Management LLC now owns 26,161 shares of the bank’s stock worth $1,148,000 after acquiring an additional 310 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Zions Bancorporation, National Association by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,896 shares of the bank’s stock valued at $2,229,000 after acquiring an additional 330 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Zions Bancorporation, National Association by 105.4% in the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock valued at $28,000 after acquiring an additional 331 shares during the period. Institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Zions Bancorporation, National Association in a research note on Wednesday, April 10th. They set a “hold” rating and a $47.00 price target for the company. JPMorgan Chase & Co. raised their target price on Zions Bancorporation, National Association from $49.50 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Truist Financial reiterated a “hold” rating and issued a $46.00 price target on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. UBS Group cut their price objective on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group reduced their target price on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus price target of $43.82.

Zions Bancorporation, National Association Stock Up 3.1 %

NASDAQ:ZION opened at $43.37 on Friday. The stock’s fifty day moving average price is $42.47 and its two-hundred day moving average price is $41.93. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 4.83 and a beta of 1.11. Zions Bancorporation, National Association has a 52-week low of $26.69 and a 52-week high of $46.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.82 and a current ratio of 0.82.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Friday, April 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.02). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same period last year, the company earned $1.33 EPS. On average, analysts anticipate that Zions Bancorporation, National Association will post 4.37 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Wednesday, May 15th. Zions Bancorporation, National Association’s dividend payout ratio is presently 41.21%.

Insider Activity

In related news, EVP Rebecca K. Robinson sold 5,291 shares of Zions Bancorporation, National Association stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at $970,911.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Rebecca K. Robinson sold 5,291 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the completion of the sale, the executive vice president now owns 22,238 shares in the company, valued at approximately $970,911.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $43.68, for a total value of $65,520.00. Following the completion of the sale, the chief executive officer now owns 22,181 shares of the company’s stock, valued at $968,866.08. The disclosure for this sale can be found here. Insiders have sold a total of 7,296 shares of company stock valued at $319,192 in the last 90 days. 2.22% of the stock is owned by company insiders.

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.