Cetera Investment Advisers Purchases 6,519 Shares of 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 raised its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 18.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,060 shares of the bank's stock after acquiring an additional 6,519 shares during the period. Cetera Investment Advisers' holdings in Zions Bancorporation, N.A. were worth $2,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ZION. Balyasny Asset Management L.P. raised its holdings in Zions Bancorporation, N.A. by 249.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after buying an additional 1,159,888 shares during the period. Freestone Grove Partners LP acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter worth about $51,116,000. GAMMA Investing LLC boosted its holdings in Zions Bancorporation, N.A. by 5,690.4% in the first quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock worth $27,468,000 after acquiring an additional 541,389 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Zions Bancorporation, N.A. by 20.8% during the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after purchasing an additional 390,601 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Zions Bancorporation, N.A. by 413.0% during the fourth quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock worth $26,222,000 after purchasing an additional 389,148 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ZION. Truist Financial upped their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Stephens lowered their price target on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird increased their price target on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group upgraded Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and raised their price target for the stock from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price target 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. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. Price Performance

ZION traded up $0.84 during trading on Friday, reaching $52.04. 1,348,979 shares of the stock were exchanged, compared to its average volume of 1,640,965. The business's 50 day moving average price is $52.32 and its two-hundred day moving average price is $50.56. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 1.37 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $1.58 EPS 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 company had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. During the same quarter in the prior year, the company posted $1.28 EPS. As a group, equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is 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 currently 31.44%.

Zions Bancorporation, N.A. Company 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.