Wealthfront Advisers LLC Sells 2,532 Shares of Zions Bancorporation NA (NASDAQ:ZION)

Wealthfront Advisers LLC cut its stake in shares of Zions Bancorporation NA (NASDAQ:ZION) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,129 shares of the bank’s stock after selling 2,532 shares during the quarter. Wealthfront Advisers LLC’s holdings in Zions Bancorporation NA were worth $869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smith Asset Management Group LP acquired a new stake in shares of Zions Bancorporation NA during the fourth quarter worth $27,000. First Interstate Bank acquired a new stake in shares of Zions Bancorporation NA during the first quarter worth $27,000. Buffington Mohr McNeal acquired a new stake in shares of Zions Bancorporation NA during the first quarter worth $30,000. CSat Investment Advisory L.P. lifted its holdings in shares of Zions Bancorporation NA by 97.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock worth $31,000 after purchasing an additional 373 shares during the period. Finally, Doyle Wealth Management acquired a new stake in shares of Zions Bancorporation NA during the fourth quarter worth $33,000. 95.17% of the stock is owned by hedge funds and other institutional investors.

In other news, insider A Scott Anderson sold 10,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Keith D. Maio sold 11,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $48.67, for a total value of $535,370.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,100 shares of company stock valued at $1,424,658. Company insiders own 1.70% of the company’s stock.

ZION has been the subject of several recent research reports. ValuEngine raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. downgraded Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $53.00 to $50.00 in a report on Thursday, April 4th. Finally, BidaskClub downgraded Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $54.87.

NASDAQ:ZION traded down $0.37 during trading hours on Friday, hitting $44.36. The company’s stock had a trading volume of 54,396 shares, compared to its average volume of 2,036,515. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.11 and a beta of 1.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation NA has a 52-week low of $38.08 and a 52-week high of $57.25.

Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.01). The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $715.64 million. Zions Bancorporation NA had a return on equity of 12.24% and a net margin of 27.58%. During the same quarter in the previous year, the company posted $1.09 EPS. On average, analysts predict that Zions Bancorporation NA will post 4.49 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Wednesday, May 15th. Zions Bancorporation NA’s dividend payout ratio is currently 29.41%.

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About Zions Bancorporation NA

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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Institutional Ownership by Quarter for Zions Bancorporation NA (NASDAQ:ZION)

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