Zions Bancorporation, N.A. $ZION Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC significantly increased its stake in Zions Bancorporation, N.A. by 326.4%, acquiring an additional 2,194,514 shares in the first quarter, bringing its total ownership to approximately 1.94% of the company.
• Several analysts have raised their target prices for Zions Bancorporation, with notable upgrades from Truist Financial, Citigroup, and DA Davidson, indicating a generally positive outlook for the stock.
• Zions Bancorporation recently increased its quarterly dividend from $0.43 to $0.45, reflecting a commitment to returning value to shareholders amid strong financial performance with an earnings beat in the last quarter.

AQR Capital Management LLC raised its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 326.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,866,759 shares of the bank's stock after purchasing an additional 2,194,514 shares during the period. AQR Capital Management LLC owned 1.94% of Zions Bancorporation, N.A. worth $139,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZION. Curat Global LLC acquired a new position in Zions Bancorporation, N.A. during the first quarter worth approximately $25,000. Picton Mahoney Asset Management acquired a new position in Zions Bancorporation, N.A. during the first quarter worth approximately $25,000. New Age Alpha Advisors LLC acquired a new position in Zions Bancorporation, N.A. during the first quarter worth approximately $40,000. Princeton Global Asset Management LLC acquired a new position in Zions Bancorporation, N.A. during the first quarter worth approximately $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Zions Bancorporation, N.A. during the first quarter worth approximately $52,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ZION shares. Royal Bank Of Canada boosted their price objective 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. Truist Financial boosted their price objective 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. Citigroup boosted 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 research note on Wednesday, July 2nd. Robert W. Baird boosted their price objective 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 upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Stock Down 2.7%

Shares of ZION stock traded down $1.59 on Friday, hitting $56.52. The stock had a trading volume of 1,643,360 shares, compared to its average volume of 1,223,007. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.47 and a beta of 0.97. The stock's 50 day moving average is $54.96 and its 200-day moving average is $50.34.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. During the same period in the prior year, the firm posted $1.28 EPS. As a group, research 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 firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend 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 of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is currently 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.