Allianz Asset Management GmbH Raises Position in Zions Bancorporation, N.A. (NASDAQ:ZION)

Allianz Asset Management GmbH grew its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 450,600 shares of the bank's stock after acquiring an additional 39,108 shares during the quarter. Allianz Asset Management GmbH owned about 0.31% of Zions Bancorporation, N.A. worth $22,467,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ZION. Norges Bank purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at $73,542,000. Balyasny Asset Management L.P. lifted its position in shares of Zions Bancorporation, N.A. by 249.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock worth $88,130,000 after purchasing an additional 1,159,888 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $51,116,000. 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. Finally, First Trust Advisors LP raised its stake in Zions Bancorporation, N.A. by 20.8% in the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after buying an additional 390,601 shares in the last quarter. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock traded up $0.20 during mid-day trading on Friday, hitting $55.38. The company had a trading volume of 1,806,946 shares, compared to its average volume of 1,588,781. The company's fifty day moving average is $51.21 and its 200-day moving average is $50.85. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 1.58 and a beta of 0.90. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly 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. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. The company had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. During the same quarter in the prior year, the firm posted $1.28 EPS. Equities research analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.11%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 31.44%.

Analyst Ratings Changes

Several analysts have issued reports on ZION shares. Robert W. Baird increased their target price on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday. DA Davidson boosted 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. Argus upgraded shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. increased their target price 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. Finally, Citigroup lifted their price target on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $60.78.

About Zions Bancorporation, N.A.

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.