Deutsche Bank AG Cuts Stock Position in Zions Bancorporation, N.A. $ZION

Key Points

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Deutsche Bank AG decreased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 74.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,656 shares of the bank's stock after selling 205,919 shares during the quarter. Deutsche Bank AG's holdings in Zions Bancorporation, N.A. were worth $3,473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management increased its holdings in shares of Zions Bancorporation, N.A. by 3.7% during the first quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock valued at $189,022,000 after acquiring an additional 136,870 shares in the last quarter. First Trust Advisors LP increased 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 valued at $123,016,000 after acquiring an additional 390,601 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of 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 valued at $88,130,000 after acquiring an additional 1,159,888 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Zions Bancorporation, N.A. by 23.9% during the fourth quarter. Northern Trust Corp now owns 1,473,712 shares of the bank's stock valued at $79,949,000 after acquiring an additional 284,624 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $51,116,000. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Up 4.4%

Zions Bancorporation, N.A. stock traded up $2.36 during trading on Friday, hitting $55.86. 1,594,505 shares of the company were exchanged, compared to its average volume of 1,402,345. The business's 50 day moving average is $53.34 and its 200 day moving average is $50.32. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a market capitalization of $8.25 billion, a P/E ratio of 10.21, a PEG ratio of 1.40 and a beta of 0.93. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share 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 for the quarter, compared to analysts' expectations of $810.24 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $0.45 dividend. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

Wall Street Analysts Forecast Growth

ZION has been the subject of several recent research reports. Argus upgraded Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a report on Monday, April 28th. Truist Financial boosted their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Citigroup lifted their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. upped 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. Finally, Robert W. Baird upped their price target on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.