Cresset Asset Management LLC Trims Stock Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Cresset Asset Management LLC trimmed its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 87.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,109 shares of the bank’s stock after selling 29,441 shares during the quarter. Cresset Asset Management LLC’s holdings in Zions Bancorporation, National Association were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brevan Howard Capital Management LP increased its stake in Zions Bancorporation, National Association by 115.0% in the fourth quarter. Brevan Howard Capital Management LP now owns 46,657 shares of the bank’s stock valued at $2,531,000 after acquiring an additional 24,958 shares during the last quarter. Captrust Financial Advisors increased its stake in Zions Bancorporation, National Association by 0.7% in the fourth quarter. Captrust Financial Advisors now owns 148,453 shares of the bank’s stock valued at $8,054,000 after acquiring an additional 1,083 shares during the last quarter. Baird Financial Group Inc. bought a new position in Zions Bancorporation, National Association in the fourth quarter valued at $380,000. Balyasny Asset Management L.P. increased its stake in Zions Bancorporation, National Association by 249.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank’s stock valued at $88,130,000 after acquiring an additional 1,159,888 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in Zions Bancorporation, National Association in the fourth quarter valued at $979,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ZION shares. Stephens reduced their price objective on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Truist Financial started coverage on Zions Bancorporation, National Association in a research note on Tuesday, May 13th. They set a “hold” rating and a $52.00 price objective on the stock. Argus raised Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Monday, April 28th. 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 on the stock in a research note on Tuesday, April 22nd. Finally, DA Davidson raised their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.47.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value 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 approximately $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 this hyperlink. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Trading Up 0.3%

Shares of ZION stock opened at $49.22 on Monday. 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 stock has a market capitalization of $7.26 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The company has a 50 day moving average price of $46.48 and a 200 day moving average price of $52.88. Zions Bancorporation, National Association has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same quarter in the previous year, the business posted $0.96 EPS. Equities research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company 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 of this dividend is Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.49%. Zions Bancorporation, National Association’s dividend payout ratio is currently 33.59%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a stock buyback program on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Company 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.