Quantbot Technologies LP Purchases New 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 bought a new position in 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 bought 61,313 shares of the bank's stock, valued at approximately $3,057,000.

Several other large investors also recently added to or reduced their stakes in ZION. Blackhawk Capital Partners LLC. lifted its holdings in Zions Bancorporation, N.A. by 5.3% during the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after buying an additional 245 shares during the period. Leo Wealth LLC lifted its holdings in Zions Bancorporation, N.A. by 1.7% during the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after buying an additional 253 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Zions Bancorporation, N.A. by 0.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 130,959 shares of the bank's stock worth $7,100,000 after buying an additional 350 shares during the period. Xponance Inc. lifted its holdings in Zions Bancorporation, N.A. by 2.4% during the first quarter. Xponance Inc. now owns 17,053 shares of the bank's stock worth $850,000 after buying an additional 394 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in Zions Bancorporation, N.A. by 1.1% during the first quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock worth $1,765,000 after buying an additional 400 shares during the period. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION traded down $0.2250 during trading on Monday, reaching $55.6350. 476,434 shares of the company traded hands, compared to its average volume of 1,594,361. The firm's fifty day simple moving average is $53.34 and its 200 day simple moving average is $50.22. The stock has a market cap of $8.21 billion, a P/E ratio of 10.17, a PEG ratio of 1.46 and a beta of 0.93. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

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

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given 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 annualized dividend and a yield of 3.2%. The ex-dividend date was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is 32.91%.

Analyst Ratings Changes

Several brokerages have recently commented on ZION. Morgan Stanley increased their price objective on 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. Argus upgraded Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research note on Monday, April 28th. Truist Financial increased their price target on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada increased their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price target on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.