Citigroup Inc. Decreases Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Citigroup Inc. trimmed its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,381 shares of the bank’s stock after selling 9,304 shares during the quarter. Citigroup Inc.’s holdings in Zions Bancorporation, National Association were worth $2,526,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fiduciary Alliance LLC purchased a new stake in Zions Bancorporation, National Association during the fourth quarter worth $36,000. Ronald Blue Trust Inc. boosted its position in Zions Bancorporation, National Association by 58.7% during the fourth quarter. Ronald Blue Trust Inc. now owns 800 shares of the bank’s stock worth $41,000 after purchasing an additional 296 shares in the last quarter. Allworth Financial LP boosted its position in Zions Bancorporation, National Association by 42.3% during the fourth quarter. Allworth Financial LP now owns 958 shares of the bank’s stock worth $47,000 after purchasing an additional 285 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Zions Bancorporation, National Association by 51.5% during the first quarter. Parkside Financial Bank & Trust now owns 1,251 shares of the bank’s stock worth $83,000 after purchasing an additional 425 shares in the last quarter. Finally, Quent Capital LLC boosted its position in Zions Bancorporation, National Association by 58.7% during the fourth quarter. Quent Capital LLC now owns 1,933 shares of the bank’s stock worth $95,000 after purchasing an additional 715 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Stock Up 4.6 %

Shares of NASDAQ:ZION opened at $29.39 on Wednesday. The stock has a 50-day simple moving average of $27.96 and a 200-day simple moving average of $42.14. The stock has a market capitalization of $4.35 billion, a P/E ratio of 5.02, a PEG ratio of 5.35 and a beta of 1.10. Zions Bancorporation, National Association has a 1 year low of $18.26 and a 1 year high of $59.75. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.86 and a current ratio of 0.86.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last announced its quarterly earnings results on Wednesday, April 19th. The bank reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.18). Zions Bancorporation, National Association had a net margin of 24.41% and a return on equity of 19.48%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $844.33 million. During the same period last year, the firm earned $1.27 earnings per share. Equities analysts forecast that Zions Bancorporation, National Association will post 5.2 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 18th will be issued a $0.41 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $1.64 annualized dividend and a yield of 5.58%. Zions Bancorporation, National Association’s dividend payout ratio is currently 27.99%.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, President Scott J. Mclean bought 37,000 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was bought at an average price of $27.44 per share, with a total value of $1,015,280.00. Following the completion of the transaction, the president now directly owns 104,540 shares of the company’s stock, valued at $2,868,577.60. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Scott J. Mclean bought 37,000 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The shares were acquired at an average cost of $27.44 per share, for a total transaction of $1,015,280.00. Following the acquisition, the president now owns 104,540 shares in the company, valued at approximately $2,868,577.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Claire A. Huang bought 18,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were bought at an average price of $20.02 per share, for a total transaction of $360,360.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $360,360. The disclosure for this purchase can be found here. Insiders have purchased 105,000 shares of company stock valued at $2,611,040 over the last three months. 1.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Argus reduced their price objective on Zions Bancorporation, National Association from $65.00 to $43.00 in a research report on Monday, April 24th. Hovde Group assumed coverage on Zions Bancorporation, National Association in a research report on Monday. They issued an “outperform” rating and a $40.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Zions Bancorporation, National Association from $50.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, April 3rd. Truist Financial reduced their price objective on Zions Bancorporation, National Association from $59.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, March 23rd. Finally, Piper Sandler reduced their price objective on Zions Bancorporation, National Association from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.00.

About Zions Bancorporation, National Association

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.