Canada Pension Plan Investment Board Grows Stake in Zions Bancorporation, N.A. $ZION

Key Points

• The Canada Pension Plan Investment Board increased its stake in Zions Bancorporation, N.A. by 1,061.7% in the first quarter, owning approximately 163,800 shares valued at $8.17 million.
• Several analysts upgraded their ratings and price targets for Zions Bancorporation, with Jefferies Financial Group raising its target from $45 to $60.
• Zions Bancorporation announced a quarterly dividend increase to $0.45 per share, reflecting an annualized dividend of $1.80 and a yield of 3.1%.

Canada Pension Plan Investment Board grew its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 1,061.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,800 shares of the bank's stock after buying an additional 149,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of Zions Bancorporation, N.A. worth $8,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ZION. Fuller & Thaler Asset Management Inc. lifted its position in shares of Zions Bancorporation, N.A. by 57.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock worth $106,368,000 after buying an additional 778,861 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Zions Bancorporation, N.A. by 5,690.4% during the 1st quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock worth $27,468,000 after buying an additional 541,389 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Zions Bancorporation, N.A. by 413.0% during the 4th quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock worth $26,222,000 after buying an additional 389,148 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Zions Bancorporation, N.A. by 443.5% during the 1st quarter. MetLife Investment Management LLC now owns 452,263 shares of the bank's stock worth $22,550,000 after buying an additional 369,052 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $16,879,000. Institutional investors own 76.84% of the company's stock.

Wall Street Analyst Weigh In

ZION has been the topic of a number of research reports. Citigroup lifted their price target on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Wells Fargo & Company lifted their price target on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. DA Davidson lifted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price target on shares of 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. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $60.78.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock traded down $1.59 during mid-day trading on Friday, reaching $56.52. The company's stock had a trading volume of 1,643,360 shares, compared to its average volume of 1,223,007. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The company has a market capitalization of $8.34 billion, a P/E ratio of 10.33, a PEG ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The firm's fifty day moving average price is $54.96 and its two-hundred day moving average price is $50.38.

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 for the quarter, beating 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 during the quarter, compared to analyst estimates of $810.24 million. During the same period in the previous year, the business earned $1.28 EPS. Sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $0.45 dividend. The ex-dividend date was Thursday, August 14th. 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. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) 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.