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 purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 42,068 shares of the bank's stock, valued at approximately $2,098,000.

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

Analysts Set New Price Targets

ZION has been the subject of a number of research analyst reports. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Royal Bank Of Canada increased their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Truist Financial increased their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and increased their price objective for the company from $45.00 to $60.00 in a report on Tuesday, July 22nd. Finally, Robert W. Baird increased their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock traded up $1.18 during mid-day trading on Wednesday, reaching $58.00. The stock had a trading volume of 2,001,632 shares, compared to its average volume of 1,421,888. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.48 and a beta of 0.93. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The business's fifty day moving average is $53.89 and its 200-day moving average is $50.31. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly 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. 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 during the quarter, compared to the consensus estimate of $810.24 million. During the same period in the previous year, the company posted $1.28 earnings per share. On average, research analysts forecast 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 paid 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 of this dividend 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 dividend payout ratio is 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.