Wellington Management Group LLP Decreases Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Wellington Management Group LLP reduced its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 466,338 shares of the bank's stock after selling 55,630 shares during the period. Wellington Management Group LLP owned about 0.32% of Zions Bancorporation, National Association worth $25,299,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after buying an additional 183 shares during the period. SRS Capital Advisors Inc. raised 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 worth $49,000 after buying an additional 493 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at approximately $62,000. Whipplewood Advisors LLC bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at approximately $115,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Zions Bancorporation, National Association by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank's stock valued at $122,000 after purchasing an additional 368 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

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Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock traded down $0.47 during trading hours on Friday, hitting $42.00. The company's stock had a trading volume of 1,873,039 shares, compared to its average volume of 1,591,629. The company has a market cap of $6.20 billion, a PE ratio of 8.48, a PEG ratio of 1.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50 day moving average price of $50.53 and a two-hundred day moving average price of $53.50. Zions Bancorporation, National Association has a 12-month low of $39.05 and a 12-month high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. During the same period in the prior year, the company posted $0.78 EPS. The firm's revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 4.10%. Zions Bancorporation, National Association's payout ratio is 34.75%.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares of the company's stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the transaction, the executive vice president now owns 45,847 shares of the company's stock, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,029 shares of company stock valued at $1,855,321. Corporate insiders own 2.22% of the company's stock.

Analysts Set New Price Targets

ZION has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, January 22nd. Morgan Stanley reduced their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. decreased their target price on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. DA Davidson raised their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Finally, UBS Group initiated coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a "neutral" rating and a $64.00 target price for the company. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $61.81.

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.