King Luther Capital Management Corp Sells 13,930 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

King Luther Capital Management Corp reduced its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 25.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,085 shares of the bank’s stock after selling 13,930 shares during the period. King Luther Capital Management Corp’s holdings in Zions Bancorporation, National Association were worth $1,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ZION. CVA Family Office LLC grew its stake in shares of Zions Bancorporation, National Association by 1.0% during the 1st quarter. CVA Family Office LLC now owns 24,783 shares of the bank’s stock worth $1,076,000 after acquiring an additional 245 shares in the last quarter. Strategic Advocates LLC grew its position in Zions Bancorporation, National Association by 6.1% in the second quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock valued at $223,000 after purchasing an additional 296 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Zions Bancorporation, National Association by 1.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock valued at $1,174,000 after buying an additional 327 shares during the last quarter. WBI Investments LLC increased its stake in Zions Bancorporation, National Association by 3.4% in the 2nd quarter. WBI Investments LLC now owns 10,591 shares of the bank’s stock valued at $459,000 after buying an additional 352 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Zions Bancorporation, National Association by 1.2% during the 2nd quarter. Hsbc Holdings PLC now owns 30,247 shares of the bank’s stock worth $1,312,000 after buying an additional 363 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, the vice president now owns 17,857 shares in the company, valued at approximately $925,528.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, President Scott J. Mclean sold 60,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the sale, the president now owns 74,286 shares in the company, valued at approximately $3,850,243.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the transaction, the vice president now directly owns 17,857 shares in the company, valued at $925,528.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,073 shares of company stock worth $3,476,298. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

ZION opened at $47.99 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day simple moving average of $48.00 and a 200 day simple moving average of $44.26. Zions Bancorporation, National Association has a 1 year low of $28.90 and a 1 year high of $53.32. The company has a market capitalization of $7.09 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.10 by $0.18. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The business had revenue of $776.00 million for the quarter, compared to the consensus estimate of $761.61 million. During the same period in the prior year, the company posted $1.11 earnings per share. Zions Bancorporation, National Association’s revenue was down .5% compared to the same quarter last year. Research analysts expect that Zions Bancorporation, National Association will post 4.52 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.42%. Zions Bancorporation, National Association’s payout ratio is 41.21%.

Analyst Upgrades and Downgrades

ZION has been the topic of a number of recent research reports. Stephens lifted their target price on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada raised their target price on shares of Zions Bancorporation, National Association from $48.00 to $54.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. Truist Financial dropped their price target on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Argus downgraded shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.72.

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.