Ashton Thomas Private Wealth LLC Takes Position 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 acquired a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 16,188 shares of the bank's stock, valued at approximately $807,000.

A number of other institutional investors have also recently made changes to their positions in the business. PharVision Advisers LLC acquired a new position in Zions Bancorporation, N.A. during the 1st quarter valued at about $342,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Zions Bancorporation, N.A. by 18.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank's stock worth $2,042,000 after acquiring an additional 6,393 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Zions Bancorporation, N.A. by 24.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 144,840 shares of the bank's stock valued at $7,222,000 after acquiring an additional 28,179 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Zions Bancorporation, N.A. by 326.4% in the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock valued at $139,927,000 after purchasing an additional 2,194,514 shares during the last quarter. Finally, Amundi boosted its stake in Zions Bancorporation, N.A. by 33.6% in the 1st quarter. Amundi now owns 100,282 shares of the bank's stock worth $5,000,000 after purchasing an additional 25,234 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZION. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Truist Financial raised their target price 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. Citigroup lifted their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Robert W. Baird increased their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of "Hold" and a consensus target price of $60.95.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock traded down $0.57 during mid-day trading 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 has a market capitalization of $8.34 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.49 and a beta of 0.97. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The company's fifty day moving average is $55.39 and its 200-day moving average is $50.53. 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 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 net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $810.24 million. During the same period in the previous year, the firm earned $1.28 EPS. Equities research analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s dividend payout ratio is currently 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.