Cubist Systematic Strategies LLC Makes New $7.65 Million Investment in Zions Bancorporation, N.A. $ZION

Key Points

• Cubist Systematic Strategies LLC invested $7.65 million in Zions Bancorporation, acquiring 153,444 shares, which accounts for approximately 0.10% of the company's stock.
• Zions Bancorporation reported $1.58 earnings per share for the recent quarter, exceeding estimates by $0.27, and had a revenue of $838 million.
• The company announced a quarterly dividend increase, now paying $0.45 per share, resulting in an annualized yield of 3.1%.

Cubist Systematic Strategies LLC bought a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 153,444 shares of the bank's stock, valued at approximately $7,651,000. Cubist Systematic Strategies LLC owned about 0.10% of Zions Bancorporation, N.A. as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blackhawk Capital Partners LLC. grew its stake in shares of Zions Bancorporation, N.A. by 5.3% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after acquiring an additional 245 shares in the last quarter. Leo Wealth LLC boosted its position in shares of Zions Bancorporation, N.A. by 1.7% in the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock valued at $744,000 after acquiring an additional 253 shares during the period. MAI Capital Management lifted its position in Zions Bancorporation, N.A. by 1.5% during the first quarter. MAI Capital Management now owns 19,591 shares of the bank's stock valued at $977,000 after purchasing an additional 293 shares during the last quarter. Xponance Inc. lifted its position in Zions Bancorporation, N.A. by 2.4% during the first quarter. Xponance Inc. now owns 17,053 shares of the bank's stock valued at $850,000 after purchasing an additional 394 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of Zions Bancorporation, N.A. by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock worth $1,765,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Trading Up 0.6%

ZION stock traded up $0.32 on Monday, hitting $56.84. 197,829 shares of the company were exchanged, compared to its average volume of 1,574,759. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The business's fifty day moving average is $54.96 and its two-hundred day moving average is $50.31.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.27. The business had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. During the same period in the prior year, the firm earned $1.28 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 32.91%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of 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. Morgan Stanley raised their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Citigroup increased their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada raised their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Finally, DA Davidson lifted their target price on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Zions Bancorporation, N.A. has an average rating of "Hold" and an average target price 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.