CTC Alternative Strategies Ltd. Invests $444,000 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 Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,900 shares of the bank's stock, valued at approximately $444,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter worth about $25,000. Curat Global LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter worth about $25,000. New Age Alpha Advisors LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter worth about $40,000. Princeton Global Asset Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter worth about $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter worth about $52,000. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock traded up $0.16 during midday trading on Friday, reaching $58.42. 1,343,024 shares of the stock traded hands, compared to its average volume of 1,251,049. 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 fifty day moving average price of $55.33 and a two-hundred day moving average price of $50.49. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.52 and a beta of 0.97. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. The firm 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 period in the previous year, the business posted $1.28 EPS. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced 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 represents a $1.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 32.91%.

Analyst Ratings Changes

Several research firms have recently weighed in on ZION. Morgan Stanley boosted 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. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their price objective for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Cantor Fitzgerald initiated coverage on shares of Zions Bancorporation, N.A. in a research report on Wednesday. They set an "overweight" rating and a $64.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research report 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 given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $60.95.

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.