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 lifted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,172 shares of the bank's stock after acquiring 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 Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Zions Bancorporation, N.A. by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank's stock worth $351,027,000 after acquiring an additional 233,252 shares during the last quarter. LSV Asset Management raised its position in shares of Zions Bancorporation, N.A. by 3.7% during the first quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock worth $189,022,000 after acquiring an additional 136,870 shares during the last quarter. First Trust Advisors LP increased its holdings in Zions Bancorporation, N.A. by 20.8% in the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after purchasing an additional 390,601 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Zions Bancorporation, N.A. by 249.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock worth $88,130,000 after purchasing an additional 1,159,888 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Zions Bancorporation, N.A. by 23.9% in the fourth quarter. Northern Trust Corp now owns 1,473,712 shares of the bank's stock worth $79,949,000 after purchasing an additional 284,624 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $53.27 on Tuesday. 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 52-week low of $39.32 and a 52-week high of $63.22. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.37 and a beta of 0.93. The business's fifty day moving average is $52.91 and its 200 day moving average is $50.30.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data 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. 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 EPS. Research analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.4%. 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. Zions Bancorporation, N.A.'s dividend payout ratio is presently 32.91%.

Analysts Set New Price Targets

ZION has been the subject of a number of research analyst reports. Truist Financial lifted their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Citigroup lifted their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Robert W. Baird lifted their target price on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Morgan Stanley boosted their price objective on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, N.A. has a consensus rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. Company 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.

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