Cetera Investment Advisers Boosts Stock Position in Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Cetera Investment Advisers has increased its holdings in Zions Bancorporation by 18.9%, owning 41,060 shares valued at approximately $2 million as per its recent SEC filing.
• Zions Bancorporation recently reported an earnings per share (EPS) of $1.58, exceeding expectations and reflecting a revenue of $838 million for the quarter.
• The company has declared an increase in its quarterly dividend to $0.45 per share, with a dividend yield of 3.5%, signaling positive financial health for stakeholders.

Cetera Investment Advisers grew its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 18.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,060 shares of the bank's stock after acquiring an additional 6,519 shares during the quarter. Cetera Investment Advisers' holdings in Zions Bancorporation, N.A. were worth $2,047,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Curat Global LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth approximately $25,000. Covestor Ltd grew its holdings in Zions Bancorporation, N.A. by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank's stock valued at $46,000 after purchasing an additional 479 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in Zions Bancorporation, N.A. in the first quarter valued at $50,000. CX Institutional acquired a new stake in Zions Bancorporation, N.A. in the first quarter valued at $53,000. Finally, Bridge Generations Wealth Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at $65,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ZION. 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 research note on Tuesday, July 22nd. DA Davidson raised their price target on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Citigroup raised their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Stephens decreased their price target on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $60.78.

Zions Bancorporation, N.A. Stock Up 1.1%

Shares of NASDAQ:ZION traded up $0.59 during mid-day trading on Tuesday, hitting $52.37. 249,533 shares of the company traded hands, compared to its average volume of 1,610,561. The firm has a market cap of $7.73 billion, a P/E ratio of 9.58, a PEG ratio of 1.37 and a beta of 0.93. 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's 50 day simple moving average is $52.42 and its 200 day simple moving average is $50.46.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.31 by $0.27. The business had revenue of $838.00 million for 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 last year, the business posted $1.28 EPS. On average, equities analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is 31.44%.

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.