Fox Run Management L.L.C. Makes New $864,000 Investment in Zions Bancorporation, N.A. $ZION

Key Points

• Fox Run Management L.L.C. purchased 17,332 shares of Zions Bancorporation, N.A. for approximately $864,000 in the first quarter.
• Zions Bancorporation, N.A. reported earnings of $1.58 per share for the last quarter, surpassing analysts' estimates and showcasing a net margin of 16.98%.
• The company declared a quarterly dividend of $0.45 per share, representing an annual yield of 3.4%, an increase from the previous dividend of $0.43.

Fox Run Management L.L.C. acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,332 shares of the bank's stock, valued at approximately $864,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new position in shares of Zions Bancorporation, N.A. during the first quarter worth about $224,000. Principal Financial Group Inc. grew its holdings in shares of Zions Bancorporation, N.A. by 0.5% during the first quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank's stock valued at $16,956,000 after purchasing an additional 1,561 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $3,383,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Zions Bancorporation, N.A. in the 1st quarter worth approximately $1,261,000. Finally, Teacher Retirement System of Texas grew its holdings in Zions Bancorporation, N.A. by 6.2% in the 1st quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank's stock worth $2,401,000 after buying an additional 2,821 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

ZION traded down $0.13 on Tuesday, reaching $53.14. The company had a trading volume of 1,205,203 shares, compared to its average volume of 1,607,345. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The company's fifty day moving average is $52.91 and its 200 day moving average is $50.30. The stock has a market cap of $7.84 billion, a P/E ratio of 9.71, a P/E/G ratio of 1.37 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. The firm had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. During the same quarter last year, the business posted $1.28 earnings per share. As a group, analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is currently 32.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Citigroup increased their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price target on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. DA Davidson increased their target price on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company increased their target price on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. 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.