Charles Schwab Investment Management Inc. Cuts Stock Position in Zions Bancorporation, N.A. $ZION

Key Points

• Charles Schwab Investment Management Inc. dramatically reduced its stake in Zions Bancorporation, N.A. by 77.3%, now holding approximately 1.1 million shares valued at $55.2 million.
• Several institutional investors are increasing their stakes in Zions Bancorporation, with notable raises including Balyasny Asset Management increasing by 249.6% and GAMMA Investing raising theirs by 5,690.4%.
• Zions Bancorporation recently announced a quarterly dividend of $0.45 per share, up from $0.43, resulting in an annualized yield of 3.4%.

Charles Schwab Investment Management Inc. reduced its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 77.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,107,552 shares of the bank's stock after selling 3,775,431 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.75% of Zions Bancorporation, N.A. worth $55,223,000 as of its most recent SEC filing.

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

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock traded down $0.1540 during midday trading on Tuesday, hitting $53.1160. 510,670 shares of the company's stock were exchanged, compared to its average volume of 1,602,535. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22. The stock has a 50-day moving average price of $52.91 and a two-hundred day moving average price of $50.30. 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 company has a market cap of $7.84 billion, a P/E ratio of 9.71, a PEG ratio of 1.37 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping the consensus estimate 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 business had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. During the same period in the previous year, the business earned $1.28 earnings per share. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.4%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 32.91%.

Analyst Ratings Changes

Several brokerages have issued reports on ZION. Argus upgraded Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Monday, April 28th. Truist Financial boosted their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Citigroup boosted their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada boosted their target price on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $60.78.

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.