Blueshift Asset Management LLC Buys New Shares in Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Blueshift Asset Management LLC purchased 5,261 shares of Zions Bancorporation, valued at approximately $262,000, during the first quarter.
• Zions Bancorporation recently announced a quarterly dividend increase to $0.45 per share, representing an annualized yield of 3.5%.
• Analysts have adjusted their price targets for Zions Bancorporation shares, with the consensus rating being a "Hold" and a price target of $60.78.

Blueshift Asset Management LLC acquired a new position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,261 shares of the bank's stock, valued at approximately $262,000.

Several other large investors also recently made changes to their positions in the business. Blackhawk Capital Partners LLC. grew its holdings in Zions Bancorporation, N.A. by 5.3% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after acquiring an additional 245 shares in the last quarter. Leo Wealth LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 1.7% in the 1st quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock valued at $744,000 after buying an additional 253 shares during the period. Blair William & Co. IL boosted its holdings in shares of Zions Bancorporation, N.A. by 4.7% in the 4th quarter. Blair William & Co. IL now owns 6,713 shares of the bank's stock valued at $364,000 after buying an additional 303 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Zions Bancorporation, N.A. by 0.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 130,959 shares of the bank's stock valued at $7,100,000 after buying an additional 350 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Zions Bancorporation, N.A. by 2.4% in the 1st quarter. Xponance Inc. now owns 17,053 shares of the bank's stock valued at $850,000 after buying an additional 394 shares during the period. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Down 0.7%

ZION traded down $0.35 during trading on Thursday, reaching $51.17. 95,812 shares of the stock traded hands, compared to its average volume of 1,605,267. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock's 50-day simple moving average is $52.16 and its two-hundred day simple moving average is $50.71.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.31 by $0.27. The company had revenue of $838.00 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $1.28 earnings per share. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be paid a $0.45 dividend. The ex-dividend date is 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 dividend on an annualized basis and a dividend yield of 3.5%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 31.44%.

Analysts Set New Price Targets

Several research analysts have recently commented on ZION shares. Truist Financial lifted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Argus upgraded shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Citigroup lifted their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and a consensus target price of $60.78.

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.