CTC Alternative Strategies Ltd. Buys New Stake in Zions Bancorporation, N.A. $ZION

Key Points

• CTC Alternative Strategies Ltd. has acquired a new position in Zions Bancorporation, N.A., purchasing 8,900 shares valued at approximately $444,000 during the first quarter.
• The company reported $1.58 earnings per share for the last quarter, surpassing the consensus estimate of $1.31, with total revenue of $838 million.
• Zions Bancorporation recently announced a quarterly dividend of $0.45 per share, indicating a positive increase from the previous $0.43 dividend.

CTC Alternative Strategies Ltd. bought a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,900 shares of the bank's stock, valued at approximately $444,000.

A number of other institutional investors have also modified their holdings of ZION. AQR Capital Management LLC increased its holdings in Zions Bancorporation, N.A. by 326.4% during the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock valued at $139,927,000 after buying an additional 2,194,514 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Zions Bancorporation, N.A. by 57.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock valued at $106,368,000 after buying an additional 778,861 shares during the period. GAMMA Investing LLC increased its holdings in Zions Bancorporation, N.A. by 5,690.4% during the first quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock valued at $27,468,000 after buying an additional 541,389 shares during the period. FJ Capital Management LLC purchased a new position in Zions Bancorporation, N.A. during the first quarter valued at approximately $21,361,000. Finally, MetLife Investment Management LLC increased its holdings in Zions Bancorporation, N.A. by 443.5% during the first quarter. MetLife Investment Management LLC now owns 452,263 shares of the bank's stock valued at $22,550,000 after buying an additional 369,052 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ZION. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Cantor Fitzgerald assumed coverage on shares of Zions Bancorporation, N.A. in a research note on Wednesday. They issued an "overweight" rating and a $64.00 target price for the company. Truist Financial raised their target price on shares of 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. Morgan Stanley raised their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Finally, Citigroup raised their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $60.95.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $0.16 on Friday, hitting $58.42. 1,343,024 shares of the company were exchanged, compared to its average volume of 1,251,049. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The stock's 50 day moving average price is $55.33 and its 200 day moving average price is $50.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $8.62 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping the consensus estimate 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 business had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. During the same period in the previous year, the firm posted $1.28 earnings per share. Sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, August 14th. 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 dividend yield of 3.1%. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

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.