AlphaQuest LLC Purchases 37,831 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• AlphaQuest LLC increased its stake in Zions Bancorporation, N.A. by 29,100.8%, acquiring an additional 37,831 shares, resulting in a total holding worth $1,893,000.
• Analysts have raised their price targets for Zions Bancorporation, with DA Davidson increasing it from $57.00 to $66.00 and Wells Fargo from $47.00 to $58.00, suggesting a generally positive outlook on the stock.
• Zions Bancorporation announced a quarterly dividend increase from $0.43 to $0.45 per share, representing an annualized dividend yield of 3.2% and a dividend payout ratio of 32.91%.

AlphaQuest LLC raised its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 29,100.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,961 shares of the bank's stock after buying an additional 37,831 shares during the period. AlphaQuest LLC's holdings in Zions Bancorporation, N.A. were worth $1,893,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blackhawk Capital Partners LLC. lifted its holdings 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 worth $244,000 after acquiring an additional 245 shares during the period. Leo Wealth LLC boosted its stake in Zions Bancorporation, N.A. by 1.7% in 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. Xponance Inc. boosted its position in shares of Zions Bancorporation, N.A. by 2.4% in the first quarter. Xponance Inc. now owns 17,053 shares of the bank's stock valued at $850,000 after acquiring an additional 394 shares during the period. State of Michigan Retirement System lifted its stake in shares of Zions Bancorporation, N.A. by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock valued at $1,765,000 after acquiring an additional 400 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Zions Bancorporation, N.A. by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 41,400 shares of the bank's stock worth $2,064,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZION. Citigroup upped their price objective 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. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and raised their price objective for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Morgan Stanley raised their price objective on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. 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 research note 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 research report on Sunday, July 13th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of Zions Bancorporation, N.A. stock traded up $1.18 during trading hours on Wednesday, reaching $58.00. 1,949,404 shares of the stock traded hands, compared to its average volume of 1,596,340. The company has a 50 day moving average price of $53.69 and a 200 day moving average price of $50.25. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. 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 firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 1.46 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 earnings per share. On average, equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal 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 $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is 32.91%.

Zions Bancorporation, N.A. Company 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.