Boston Partners Sells 8,620 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Boston Partners reduced its holdings in Zions Bancorporation, N.A. by 1.4%, now owning approximately 0.41% of the company, valued at $29.78 million.
• Institutions have shown interest in Zions Bancorporation, with several funds acquiring new stakes, which highlight a strong institutional ownership of 76.84%.
• Zions Bancorporation announced a quarterly dividend increase to $0.45 per share, reflecting a yield of 3.3% on an annualized basis.

Boston Partners cut its stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 610,467 shares of the bank's stock after selling 8,620 shares during the period. Boston Partners owned 0.41% of Zions Bancorporation, N.A. worth $29,780,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ZION. Picton Mahoney Asset Management bought a new position in shares of Zions Bancorporation, N.A. in the first quarter worth $25,000. Curat Global LLC bought a new position in shares of Zions Bancorporation, N.A. in the first quarter worth $25,000. New Age Alpha Advisors LLC bought a new position in shares of Zions Bancorporation, N.A. in the first quarter worth $40,000. Princeton Global Asset Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the first quarter worth $50,000. Finally, CX Institutional bought a new position in shares of Zions Bancorporation, N.A. in the first quarter worth $53,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Up 1.2%

Shares of ZION traded up $0.64 during midday trading on Wednesday, reaching $53.78. 1,247,587 shares of the stock were exchanged, compared to its average volume of 1,474,427. The firm has a 50 day simple moving average of $53.08 and a 200-day simple moving average of $50.35. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 1.39 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. The firm had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.During the same quarter last year, the firm posted $1.28 EPS. Research analysts forecast 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 issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, August 14th. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

Wall Street Analyst Weigh In

ZION has been the subject of several recent analyst reports. Morgan Stanley increased their price target on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased 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. Citigroup raised their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Robert W. Baird raised their target price on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, DA Davidson raised their target price on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average 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.