Abound Wealth Management Purchases New Holdings in Zions Bancorporation, N.A. $ZION

Key Points

• Abound Wealth Management has acquired a new stake in Zions Bancorporation, purchasing 7,311 shares valued at approximately $380,000.
• Zions Bancorporation recently reported earnings of $1.58 per share for the quarter, outperforming analysts’ expectations of $1.31.
• The company has increased its quarterly dividend from $0.43 to $0.45 per share, reflecting a positive change in its financial performance.

Abound Wealth Management purchased a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,311 shares of the bank's stock, valued at approximately $380,000.

Other large investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new position in Zions Bancorporation, N.A. during the 1st quarter valued at about $224,000. Principal Financial Group Inc. lifted its position in Zions Bancorporation, N.A. by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank's stock valued at $16,956,000 after acquiring an additional 1,561 shares during the period. Janney Montgomery Scott LLC purchased a new position in Zions Bancorporation, N.A. during the 1st quarter valued at about $3,383,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Zions Bancorporation, N.A. during the 1st quarter valued at about $1,261,000. Finally, Teacher Retirement System of Texas lifted its position in Zions Bancorporation, N.A. by 6.2% during the 1st quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank's stock valued at $2,401,000 after acquiring an additional 2,821 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ZION. Robert W. Baird lifted their target price on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. DA Davidson lifted their target price 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. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their target price for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd. Morgan Stanley lifted 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 report on Tuesday, July 22nd. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $60.95.

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock opened at $58.70 on Friday. 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 company has a market cap of $8.67 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.53 and a beta of 0.97. The firm's fifty day moving average is $55.53 and its 200 day moving average is $50.67.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. The business had revenue of $838.00 million for the quarter, compared to analysts' expectations 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 previous year, the business posted $1.28 earnings per share. Sell-side analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $0.45 per share. 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. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. Zions Bancorporation, N.A.'s payout ratio is currently 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.

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