Caisse DE Depot ET Placement DU Quebec Purchases Shares of 112,100 Zions Bancorporation, N.A. $ZION

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 112,100 shares of Zions Bancorporation, valued at approximately $5.6 million, which represents about 0.08% ownership of the company.
• Analysts have raised price targets for Zions, with Citigroup increasing it from $48 to $52 and Morgan Stanley from $60 to $66, while Jefferies upgraded their rating from "underperform" to "hold."
• Zions Bancorporation recently increased its quarterly dividend from $0.43 to $0.45, reflecting a positive change and an annual yield of 3.1%.

Caisse DE Depot ET Placement DU Quebec bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 112,100 shares of the bank's stock, valued at approximately $5,589,000. Caisse DE Depot ET Placement DU Quebec owned about 0.08% of Zions Bancorporation, N.A. as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Blackhawk Capital Partners LLC. lifted its holdings in Zions Bancorporation, N.A. by 5.3% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after purchasing an additional 245 shares during the last quarter. Leo Wealth LLC lifted its holdings in Zions Bancorporation, N.A. by 1.7% in the 1st quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after purchasing an additional 253 shares during the last quarter. Xponance Inc. lifted its holdings in Zions Bancorporation, N.A. by 2.4% in the 1st quarter. Xponance Inc. now owns 17,053 shares of the bank's stock worth $850,000 after purchasing an additional 394 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Zions Bancorporation, N.A. by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock worth $1,765,000 after purchasing an additional 400 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Zions Bancorporation, N.A. by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 41,400 shares of the bank's stock worth $2,064,000 after purchasing an additional 400 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Jefferies Financial Group upgraded Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and upped their price target for the stock from $45.00 to $60.00 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. Morgan Stanley upped their price target 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. Finally, Robert W. Baird upped their price target 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. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION traded down $1.01 during trading hours on Tuesday, reaching $57.01. The stock had a trading volume of 368,351 shares, compared to its average volume of 1,587,725. The business's fifty day moving average is $54.44 and its two-hundred day moving average is $50.27. 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 company has a market cap of $8.42 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.51 and a beta of 0.97. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22.

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

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) 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.