Wellington Management Group LLP Sells 13,918 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Wellington Management Group LLP cut its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 26.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,847 shares of the bank’s stock after selling 13,918 shares during the period. Wellington Management Group LLP’s holdings in Zions Bancorporation, National Association were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Treasurer of the State of North Carolina lifted its position in shares of Zions Bancorporation, National Association by 0.5% in the third 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. Bank of Nova Scotia boosted its stake in Zions Bancorporation, National Association by 12.3% in the 3rd quarter. Bank of Nova Scotia now owns 10,295 shares of the bank’s stock worth $359,000 after purchasing an additional 1,128 shares during the period. Toronto Dominion Bank grew its holdings in Zions Bancorporation, National Association by 11.5% during the 3rd quarter. Toronto Dominion Bank now owns 43,732 shares of the bank’s stock valued at $1,526,000 after buying an additional 4,511 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Zions Bancorporation, National Association by 25.6% during the third quarter. AQR Capital Management LLC now owns 213,518 shares of the bank’s stock valued at $7,450,000 after buying an additional 43,572 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new position in shares of Zions Bancorporation, National Association in the third quarter worth $351,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the subject of several research analyst reports. Evercore ISI raised their target price on shares of Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Royal Bank of Canada lifted their target price on Zions Bancorporation, National Association from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 23rd. UBS Group dropped their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Zions Bancorporation, National Association in a report on Wednesday, April 10th. They issued a “hold” rating and a $47.00 target price for the company. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.82.

Zions Bancorporation, National Association Trading Down 0.1 %

Shares of NASDAQ ZION opened at $43.32 on Tuesday. Zions Bancorporation, National Association has a fifty-two week low of $26.69 and a fifty-two 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. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 4.99 and a beta of 1.11. The business’s 50 day moving average price is $42.51 and its 200-day moving average price is $41.94.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Friday, April 26th. The bank reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $747.21 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. During the same quarter in the previous year, the business earned $1.33 EPS. On average, sell-side analysts expect that Zions Bancorporation, National Association will post 4.37 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were given a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.64 annualized dividend and a yield of 3.79%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 41.21%.

Insiders Place Their Bets

In other news, EVP Rebecca K. Robinson sold 5,291 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, May 3rd. The shares were 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 owns 22,238 shares of the company’s stock, valued at $970,911.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now directly owns 22,181 shares in the company, valued at approximately $968,866.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rebecca K. Robinson sold 5,291 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were 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 owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The disclosure for this sale can be found here. Insiders have sold 7,296 shares of company stock worth $319,192 in the last three months. Corporate insiders own 2.22% of the company’s stock.

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.