Zions Bancorporation, N.A. $ZION Shares Bought by Amundi

Key Points

• Amundi increased its stake in Zions Bancorporation, N.A. by 33.6% during the first quarter, acquiring an additional 25,234 shares to own approximately $5 million worth of the bank's stock.
• Analysts have raised their price targets for Zions Bancorporation, with Wells Fargo increasing it from $47 to $58 and JPMorgan adjusting from $55 to $63.
• Zions Bancorporation's quarterly dividend was increased to $0.45 from $0.43, representing an annual yield of 3.1%.

Amundi boosted its stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 33.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,282 shares of the bank's stock after buying an additional 25,234 shares during the quarter. Amundi owned approximately 0.07% of Zions Bancorporation, N.A. worth $5,000,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new stake in shares of Zions Bancorporation, N.A. in the first quarter worth approximately $224,000. Principal Financial Group Inc. lifted its holdings in Zions Bancorporation, N.A. by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank's stock valued at $16,956,000 after purchasing an additional 1,561 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter worth $3,383,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth $1,261,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Zions Bancorporation, N.A. by 6.2% during the first quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank's stock worth $2,401,000 after buying an additional 2,821 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Trading Down 1.0%

ZION traded down $0.57 on Tuesday, hitting $56.50. The company had a trading volume of 1,310,819 shares, compared to its average volume of 1,285,023. The company's fifty day moving average price is $55.39 and its 200 day moving average price is $50.53. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a market cap of $8.34 billion, a P/E ratio of 10.33, a PEG ratio of 1.49 and a beta of 0.97.

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 for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. The business had revenue of $838.00 million during the quarter, compared to analysts' expectations 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 last year, the business earned $1.28 earnings per share. As a group, equities analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. This is a positive change 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 currently 32.91%.

Wall Street Analysts Forecast Growth

ZION has been the subject of several research reports. Morgan Stanley upped their price objective on shares of 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. Citigroup upped their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Cantor Fitzgerald started coverage on Zions Bancorporation, N.A. in a research report on Wednesday, September 10th. They set an "overweight" rating and a $64.00 price objective on the stock. Truist Financial boosted their price objective on 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, DA Davidson raised their target price on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $60.95.

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.