American Century Companies Inc. Boosts Stake in Zions Bancorporation, N.A. $ZION

Key Points

• American Century Companies Inc. has increased its holdings in Zions Bancorporation, N.A. by 6.8%, owning 571,233 shares valued at approximately $28.48 million as of its latest SEC filing.
• Several hedge funds have also expanded their positions in Zions Bancorporation, with institutional investors now controlling 76.84% of the company's stock.
• Zions Bancorporation recently reported a quarterly earnings per share of $1.58, exceeding analyst estimates of $1.31, and announced an increase in its quarterly dividend from $0.43 to $0.45.

American Century Companies Inc. grew its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 571,233 shares of the bank's stock after purchasing an additional 36,586 shares during the period. American Century Companies Inc. owned about 0.39% of Zions Bancorporation, N.A. worth $28,482,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blackhawk Capital Partners LLC. lifted its stake 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 purchasing an additional 245 shares during the last quarter. Leo Wealth LLC lifted its stake in Zions Bancorporation, N.A. by 1.7% during the first 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 last quarter. Xponance Inc. lifted its stake in Zions Bancorporation, N.A. by 2.4% during the first quarter. Xponance Inc. now owns 17,053 shares of the bank's stock worth $850,000 after purchasing an additional 394 shares during the last quarter. State of Michigan Retirement System lifted its stake in Zions Bancorporation, N.A. by 1.1% during the first quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock worth $1,765,000 after purchasing an additional 400 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Zions Bancorporation, N.A. by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 41,400 shares of the bank's stock worth $2,064,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

Wall Street Analyst Weigh In

ZION has been the subject of several research analyst reports. Robert W. Baird lifted their price target on 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. Citigroup boosted their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their target price on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Truist Financial boosted their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their target price for the company from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Zions Bancorporation, N.A. has an average rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Trading Up 2.1%

NASDAQ:ZION traded up $1.18 during mid-day trading on Wednesday, reaching $58.00. 2,001,632 shares of the company's stock traded hands, compared to its average volume of 1,421,888. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50 day moving average price of $53.89 and a 200-day moving average price of $50.31.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly 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. 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 for the quarter, compared to the consensus estimate of $810.24 million. During the same quarter in the previous year, the business earned $1.28 EPS. On average, sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.1%. This is a boost 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%.

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.