Ashton Thomas Private Wealth LLC Buys New Holdings in Zions Bancorporation, N.A. $ZION

Key Points

• Ashton Thomas Private Wealth LLC purchased a new stake in Zions Bancorporation, N.A., acquiring 16,188 shares valued at approximately $807,000.
• Several hedge funds have increased their stakes in Zions Bancorporation, with AQR Capital Management LLC leading with a 326.4% increase in shares.
• Zions Bancorporation has announced a quarterly dividend increase from $0.43 to $0.45 per share, representing a 3.1% yield for investors.

Ashton Thomas Private Wealth LLC bought a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,188 shares of the bank's stock, valued at approximately $807,000.

A number of other large investors also recently made changes to their positions in the stock. Blackhawk Capital Partners LLC. boosted its position in shares of Zions Bancorporation, N.A. by 5.3% in the 1st 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 boosted its holdings 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 buying an additional 253 shares during the last quarter. MAI Capital Management grew its position in shares of Zions Bancorporation, N.A. by 1.5% during the 1st quarter. MAI Capital Management now owns 19,591 shares of the bank's stock worth $977,000 after buying an additional 293 shares during the period. Xponance Inc. grew its position in shares of Zions Bancorporation, N.A. by 2.4% during the 1st quarter. Xponance Inc. now owns 17,053 shares of the bank's stock worth $850,000 after buying an additional 394 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of Zions Bancorporation, N.A. by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock worth $1,765,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZION. Robert W. Baird lifted 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. Morgan Stanley increased their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. DA Davidson boosted their price target 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. Truist Financial raised 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, Royal Bank Of Canada lifted their target price on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and a consensus price target of $60.95.

Zions Bancorporation, N.A. Stock Up 0.3%

NASDAQ ZION traded up $0.16 on Friday, reaching $58.42. The company had a trading volume of 1,343,024 shares, compared to its average volume of 1,251,049. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The company's fifty day moving average is $55.33 and its 200-day moving average is $50.50.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results 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 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 analyst estimates of $810.24 million. During the same period in the previous year, the company posted $1.28 earnings per share. On average, research analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently announced 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 is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.1%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 32.91%.

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.