Quantbot Technologies LP Takes Position in Zions Bancorporation, N.A. $ZION

Key Points

• Quantbot Technologies LP acquired 61,313 shares of Zions Bancorporation, valued at approximately $3,057,000, indicating institutional interest in the bank's stock.
• Zions Bancorporation reported a Q2 earnings per share of $1.58, surpassing expectations by $0.27, alongside revenues reaching $838 million.
• The company announced an increase in its quarterly dividend to $0.45 per share, enhancing its annualized yield to 3.4% for investors.

Quantbot Technologies LP purchased a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 61,313 shares of the bank's stock, valued at approximately $3,057,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in shares of Zions Bancorporation, N.A. during the first quarter worth about $25,000. Curat Global LLC acquired a new position in Zions Bancorporation, N.A. during the first quarter worth about $25,000. New Age Alpha Advisors LLC acquired a new position in Zions Bancorporation, N.A. during the first quarter worth about $40,000. Princeton Global Asset Management LLC acquired a new position in Zions Bancorporation, N.A. during the first quarter worth about $50,000. Finally, CX Institutional acquired a new position in Zions Bancorporation, N.A. during the first quarter worth about $53,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Trading Up 4.4%

Shares of ZION traded up $2.36 on Friday, hitting $55.86. 1,594,505 shares of the stock traded hands, compared to its average volume of 1,402,345. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $8.25 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.40 and a beta of 0.93. The stock's 50 day moving average is $53.34 and its two-hundred day moving average is $50.32. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.27. The business had revenue of $838.00 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $1.28 earnings per share. As a group, sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley upped their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their target price on shares of 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. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and upped their target price for the stock from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Argus upgraded shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research report on Monday, April 28th. Finally, Royal Bank Of Canada upped their price target on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $60.78.

About Zions Bancorporation, N.A.

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.