Campbell & CO Investment Adviser LLC Invests $2.10 Million in Zions Bancorporation, N.A. $ZION

Key Points

• Campbell & CO Investment Adviser LLC has acquired a new position in Zions Bancorporation, N.A., purchasing 42,068 shares valued at approximately $2.1 million in the first quarter.
• Zions Bancorporation recently reported earnings per share (EPS) of $1.58 for the quarter, surpassing analyst estimates, with revenue reaching $838 million.
• The company announced an increased quarterly dividend of $0.45, reflecting an annualized dividend of $1.80, indicating a healthy payout ratio of 32.91%.

Campbell & CO Investment Adviser LLC acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 42,068 shares of the bank's stock, valued at approximately $2,098,000.

A number of other institutional investors also recently added to or reduced their stakes in ZION. Hsbc Holdings PLC boosted its holdings in Zions Bancorporation, N.A. by 80.7% in the 4th quarter. Hsbc Holdings PLC now owns 37,888 shares of the bank's stock valued at $2,059,000 after purchasing an additional 16,923 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Zions Bancorporation, N.A. by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 53,114 shares of the bank's stock worth $2,881,000 after acquiring an additional 15,889 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Zions Bancorporation, N.A. by 3.3% during the 4th quarter. Voya Investment Management LLC now owns 87,780 shares of the bank's stock worth $4,762,000 after acquiring an additional 2,784 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $264,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Zions Bancorporation, N.A. by 19.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 879,050 shares of the bank's stock worth $47,688,000 after acquiring an additional 143,414 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ZION shares. Morgan Stanley boosted 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. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Wells Fargo & Company lifted their price objective on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. DA Davidson lifted their price objective on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.78.

Zions Bancorporation, N.A. Trading Up 0.3%

ZION traded up $0.20 during trading on Friday, hitting $58.01. The company's stock had a trading volume of 1,190,729 shares, compared to its average volume of 1,449,516. The firm's 50 day moving average price is $54.27 and its 200-day moving average price is $50.29. 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 has a market cap of $8.56 billion, a PE ratio of 10.61, a PEG ratio of 1.51 and a beta of 0.93. 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 quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating 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 return on equity of 13.76% and a net margin of 16.98%.During the same period in the previous year, the firm posted $1.28 EPS. On average, analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was 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 payout ratio is currently 32.91%.

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.