FJ Capital Management LLC Invests $21.36 Million in Zions Bancorporation, N.A. $ZION

Key Points

• FJ Capital Management LLC has acquired 428,424 shares of Zions Bancorporation, N.A., valued at approximately $21.36 million, making it the company's 16th largest position.
• Analysts have raised their price targets for Zions Bancorporation, N.A., with Royal Bank of Canada increasing it from $57.00 to $62.00, while DA Davidson set a target of $66.00, reflecting positive outlooks for the company.
• Zions Bancorporation, N.A. reported a quarterly earnings per share of $1.58, surpassing estimates, and has declared a dividend increase to $0.45, representing an annualized yield of 3.1%.

FJ Capital Management LLC bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 428,424 shares of the bank's stock, valued at approximately $21,361,000. Zions Bancorporation, N.A. comprises 2.2% of FJ Capital Management LLC's portfolio, making the stock its 16th biggest position. FJ Capital Management LLC owned 0.29% of Zions Bancorporation, N.A. at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Blackhawk Capital Partners LLC. lifted its stake in Zions Bancorporation, N.A. by 5.3% in the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after purchasing an additional 245 shares during the last quarter. Leo Wealth LLC grew its stake in shares of Zions Bancorporation, N.A. by 1.7% during the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock valued at $744,000 after buying an additional 253 shares during the last quarter. MAI Capital Management raised its holdings in shares of Zions Bancorporation, N.A. by 1.5% in the first quarter. MAI Capital Management now owns 19,591 shares of the bank's stock worth $977,000 after buying an additional 293 shares during the period. Xponance Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 2.4% during the 1st quarter. Xponance Inc. now owns 17,053 shares of the bank's stock worth $850,000 after acquiring an additional 394 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in shares of Zions Bancorporation, N.A. by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock worth $1,765,000 after acquiring an additional 400 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Stock Up 1.2%

Shares of Zions Bancorporation, N.A. stock traded up $0.69 on Thursday, reaching $58.11. The stock had a trading volume of 994,241 shares, compared to its average volume of 1,582,726. The company has a 50 day moving average price of $54.73 and a 200 day moving average price of $50.37. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The stock has a market capitalization of $8.58 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.51 and a beta of 0.97.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. During the same quarter in the previous year, the firm earned $1.28 EPS. As a group, equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

Analysts Set New Price Targets

A number of research firms have weighed in on ZION. DA Davidson increased their target price on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their target price on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Robert W. Baird lifted their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. 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.