Abound Wealth Management Invests $380,000 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) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,311 shares of the bank's stock, valued at approximately $380,000.

A number of other hedge funds have also bought and sold shares of the company. Blackhawk Capital Partners LLC. increased its position in Zions Bancorporation, N.A. by 5.3% during the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock valued at $244,000 after acquiring an additional 245 shares during the last quarter. Leo Wealth LLC boosted its stake in shares of Zions Bancorporation, N.A. by 1.7% during the 1st quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after purchasing an additional 253 shares during the period. Wedmont Private Capital lifted its stake in Zions Bancorporation, N.A. by 2.6% in the second quarter. Wedmont Private Capital now owns 10,136 shares of the bank's stock worth $564,000 after purchasing an additional 256 shares during the last quarter. MAI Capital Management lifted its stake in Zions Bancorporation, N.A. by 1.5% in the first quarter. MAI Capital Management now owns 19,591 shares of the bank's stock worth $977,000 after purchasing an additional 293 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Zions Bancorporation, N.A. by 24.9% in the second quarter. UMB Bank n.a. now owns 1,743 shares of the bank's stock worth $91,000 after purchasing an additional 348 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Up 0.0%

Shares of NASDAQ ZION traded up $0.01 during midday trading on Tuesday, reaching $57.10. 718,485 shares of the company's stock traded hands, compared to its average volume of 1,584,084. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock's 50 day simple moving average is $55.53 and its 200-day simple moving average is $50.72. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 1.53 and a beta of 0.97.

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 for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. The company had revenue of $838.00 million during the quarter, compared to analyst estimates of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.During the same quarter in the prior year, the business earned $1.28 earnings per share. On average, analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.2%. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, August 14th. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

Analyst Ratings Changes

ZION has been the topic of several recent analyst reports. Citigroup increased their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Robert W. Baird upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price objective for the company from $45.00 to $60.00 in a report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded 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 issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the 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.