Zions Bancorporation, N.A. $ZION Shares Acquired 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 grew its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 33.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 100,282 shares of the bank's stock after acquiring an additional 25,234 shares during the quarter. Amundi owned about 0.07% of Zions Bancorporation, N.A. worth $5,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ZION. Mercer Global Advisors Inc. ADV purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $241,000. Baird Financial Group Inc. purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $380,000. Deutsche Bank AG increased its holdings in shares of Zions Bancorporation, N.A. by 343.3% in the 4th quarter. Deutsche Bank AG now owns 275,575 shares of the bank's stock valued at $14,950,000 after acquiring an additional 213,405 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Zions Bancorporation, N.A. by 96.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 116,661 shares of the bank's stock valued at $6,329,000 after acquiring an additional 57,293 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $225,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock traded up $0.16 during midday trading on Friday, hitting $58.42. The company had a trading volume of 1,343,024 shares, compared to its average volume of 1,251,049. The company's 50 day simple moving average is $55.33 and its 200 day simple moving average is $50.50. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80.

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 for the quarter, beating the consensus estimate 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 period last year, the business posted $1.28 EPS. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a $0.45 dividend. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, August 14th. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is 32.91%.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of research reports. Truist Financial raised their price target 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. Wells Fargo & Company raised their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group upgraded Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and raised their price target for the stock from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Cantor Fitzgerald initiated coverage on Zions Bancorporation, N.A. in a research note on Wednesday. They set an "overweight" rating and a $64.00 price target on the stock. Finally, Royal Bank Of Canada raised their price target on 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.95.

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.