Brandywine Global Investment Management LLC Buys 7,926 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Brandywine Global Investment Management LLC increased its stake in Zions Bancorporation by 21.3%, acquiring an additional 7,926 shares during the first quarter, bringing its total holdings to 45,172 shares valued at approximately $2.25 million.
• Zions Bancorporation announced a quarterly dividend of $0.45 per share, signaling a positive change from the previous dividend of $0.43, with an annualized dividend yield of 3.4%.
• After a recent quarterly earnings report, Zions Bancorporation posted earnings per share of $1.58, exceeding analysts' expectations, and forecasted a projected 5.39 EPS for the year.

Brandywine Global Investment Management LLC increased its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,172 shares of the bank's stock after purchasing an additional 7,926 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Zions Bancorporation, N.A. were worth $2,252,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Curat Global LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth approximately $25,000. Picton Mahoney Asset Management acquired a new stake in Zions Bancorporation, N.A. in the first quarter valued at approximately $25,000. New Age Alpha Advisors LLC acquired a new stake in Zions Bancorporation, N.A. in the first quarter valued at approximately $40,000. Princeton Global Asset Management LLC acquired a new stake in Zions Bancorporation, N.A. in the first quarter valued at approximately $50,000. Finally, CX Institutional acquired a new stake in Zions Bancorporation, N.A. in the first quarter valued at approximately $53,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZION. DA Davidson lifted their target price on shares of 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. Citigroup lifted their target price on shares of 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. Morgan Stanley lifted their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Robert W. Baird lifted their target price on shares of 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, Royal Bank Of Canada lifted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $2.36 during trading on Friday, reaching $55.86. The stock had a trading volume of 1,594,505 shares, compared to its average volume of 1,391,722. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $53.34 and a two-hundred day simple moving average of $50.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. During the same quarter in the previous year, the firm posted $1.28 earnings per share. As a group, analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. This is an increase 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 payout ratio is presently 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.