Meeder Asset Management Inc. Purchases Shares of 6,798 Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Meeder Asset Management Inc. acquired 6,798 shares of Zions Bancorporation, N.A. valued at approximately $339,000 in the first quarter, indicating growing interest in the bank's stock.
• Shares of Zions Bancorporation recently saw a 1.1% decline, with analysts giving it a consensus rating of "Hold" and an average target price of $60.78.
• The bank reported $1.58 EPS for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.43 per share, reflecting a yield of 3.14%.

Meeder Asset Management Inc. bought 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. The institutional investor bought 6,798 shares of the bank's stock, valued at approximately $339,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Zions Bancorporation, N.A. by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock valued at $369,295,000 after purchasing an additional 175,656 shares during the last quarter. First Trust Advisors LP grew its position in Zions Bancorporation, N.A. by 20.8% during the 4th quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after purchasing an additional 390,601 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Zions Bancorporation, N.A. by 249.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock worth $88,130,000 after acquiring an additional 1,159,888 shares during the period. Northern Trust Corp lifted its stake in shares of Zions Bancorporation, N.A. by 23.9% in the 4th quarter. Northern Trust Corp now owns 1,473,712 shares of the bank's stock worth $79,949,000 after acquiring an additional 284,624 shares during the period. Finally, Norges Bank acquired a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth $73,542,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZION has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. DA Davidson lifted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Wells Fargo & Company boosted 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 report on Tuesday, July 22nd. Argus raised shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research report on Monday, April 28th. Finally, Stephens reduced their target price on shares of Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Stock Performance

ZION stock traded down $1.54 during trading on Friday, hitting $52.08. 1,451,079 shares of the company's stock traded hands, compared to its average volume of 1,548,889. 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 52 week low of $39.32 and a 52 week high of $63.22. The stock has a fifty day moving average price of $51.85 and a two-hundred day moving average price of $50.83. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.31 by $0.27. The business had revenue of $838.00 million during 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 in the prior year, the firm earned $1.28 earnings per share. As a group, equities analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

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.