Zions Bancorporation, N.A. $ZION Stock Position Reduced by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. trimmed its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,964,419 shares of the bank’s stock after selling 279,595 shares during the quarter. Zions Bancorporation, N.A. makes up approximately 1.7% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 12th largest position. Vaughan Nelson Investment Management L.P. owned 2.01% of Zions Bancorporation, N.A. worth $173,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Community Bank N.A. acquired a new position in Zions Bancorporation, N.A. in the third quarter worth $36,000. Steph & Co. bought a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter worth about $37,000. Salomon & Ludwin LLC bought a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter worth about $37,000. Quent Capital LLC acquired a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter valued at about $45,000. Finally, SJS Investment Consulting Inc. grew its position in shares of Zions Bancorporation, N.A. by 3,950.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 810 shares of the bank’s stock valued at $46,000 after buying an additional 790 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Monday, March 9th. Barclays upped their target price on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Brean Capital started coverage on Zions Bancorporation, N.A. in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Morgan Stanley upgraded Zions Bancorporation, N.A. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $75.00 in a research report on Monday, March 2nd. Finally, TD Cowen upped their price objective on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Zions Bancorporation, N.A. currently has an average rating of “Hold” and a consensus price target of $63.58.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Steven Dan Stephens sold 15,476 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $65.90, for a total value of $1,019,868.40. Following the completion of the sale, the executive vice president owned 41,127 shares of the company’s stock, valued at $2,710,269.30. This represents a 27.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Scott J. Mclean sold 28,980 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $61.15, for a total transaction of $1,772,127.00. Following the completion of the sale, the president directly owned 82,250 shares of the company’s stock, valued at approximately $5,029,587.50. This represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,581 shares of company stock worth $3,498,774 in the last ninety days. 1.43% of the stock is currently owned by corporate insiders.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION opened at $55.59 on Tuesday. The firm’s 50 day moving average is $58.81 and its two-hundred day moving average is $56.77. The firm has a market capitalization of $8.18 billion, a P/E ratio of 9.27 and a beta of 0.83. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $66.18.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.80 annualized dividend and a yield of 3.2%. Zions Bancorporation, N.A.’s payout ratio is presently 30.00%.

Zions Bancorporation, N.A. Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.