Meritage Portfolio Management Invests $411,000 in Zions Bancorporation, N.A. (NASDAQ:ZION)

Meritage Portfolio Management acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,248 shares of the bank's stock, valued at approximately $411,000.

A number of other hedge funds also recently made changes to their positions in ZION. Curat Global LLC bought a new stake in shares of Zions Bancorporation, N.A. in the first quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in Zions Bancorporation, N.A. by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after acquiring an additional 183 shares in the last quarter. Covestor Ltd increased its position in shares of Zions Bancorporation, N.A. by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after purchasing an additional 479 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Zions Bancorporation, N.A. by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock valued at $49,000 after purchasing an additional 493 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in shares of Zions Bancorporation, N.A. during the first quarter worth about $50,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION traded up $0.10 during trading on Friday, reaching $54.87. The company's stock had a trading volume of 1,082,797 shares, compared to its average volume of 1,561,905. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The firm has a 50 day moving average price of $48.53 and a 200 day moving average price of $50.69. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 1.81 and a beta of 0.90. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, equities analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Thursday, May 15th. Zions Bancorporation, N.A.'s payout ratio is 33.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ZION shares. Citigroup upped their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday. Wall Street Zen downgraded Zions Bancorporation, N.A. from a "hold" rating to a "sell" rating in a research note on Saturday. Keefe, Bruyette & Woods cut their target price on Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Stephens lowered their price target on shares of Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley cut their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $57.22.

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.