Ameriprise Financial Inc. Grows Holdings in Zions Bancorporation, N.A. $ZION

Key Points

• Ameriprise Financial Inc. raised its stake in Zions Bancorporation, N.A. by 4.6%, owning approximately 1,073,328 shares worth $53.5 million at the end of the latest quarter.
• Several institutional investors increased their holdings in Zions Bancorporation, N.A., with Hsbc Holdings PLC hiking its stake by 80.7% in the previous quarter.
• Analysts have given mixed ratings to the stock, with a consensus rating of "Hold" and an average target price of $60.78, following recent boosts in target prices from firms like DA Davidson and Robert W. Baird.

Ameriprise Financial Inc. raised its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 4.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,073,328 shares of the bank's stock after buying an additional 46,814 shares during the period. Ameriprise Financial Inc. owned about 0.73% of Zions Bancorporation, N.A. worth $53,516,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZION. Hsbc Holdings PLC increased its holdings in Zions Bancorporation, N.A. by 80.7% in the fourth quarter. Hsbc Holdings PLC now owns 37,888 shares of the bank's stock valued at $2,059,000 after buying an additional 16,923 shares in the last quarter. Voya Investment Management LLC increased its holdings in Zions Bancorporation, N.A. by 3.3% in the fourth quarter. Voya Investment Management LLC now owns 87,780 shares of the bank's stock valued at $4,762,000 after buying an additional 2,784 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Zions Bancorporation, N.A. in the fourth quarter valued at $264,000. The Manufacturers Life Insurance Company increased its holdings in Zions Bancorporation, N.A. by 19.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 879,050 shares of the bank's stock valued at $47,688,000 after buying an additional 143,414 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Zions Bancorporation, N.A. by 23.9% in the fourth quarter. Northern Trust Corp now owns 1,473,712 shares of the bank's stock valued at $79,949,000 after buying an additional 284,624 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZION. DA Davidson lifted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Robert W. Baird boosted 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 research note on Tuesday, July 22nd. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Truist Financial boosted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $58.00 on Thursday. The firm has a market capitalization of $8.56 billion, a PE ratio of 10.60, a PEG ratio of 1.48 and a beta of 0.93. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The firm's 50-day moving average price is $53.89 and its 200 day moving average price is $50.31. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted 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. The firm had revenue of $838.00 million for 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. As a group, sell-side analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal 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 given a dividend of $0.45 per share. The ex-dividend date was Thursday, August 14th. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.1%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 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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