Dimensional Fund Advisors LP Raises Stock Holdings in Zions Bancorporation, N.A. $ZION

Key Points

• Dimensional Fund Advisors LP has increased its stake in Zions Bancorporation, N.A. by 3.4%, now owning approximately 4.77% of the company with a total value of $351 million.
• Analysts have raised price targets for Zions Bancorporation, with Argus upgrading to a "buy" rating and a target of $55, while Jefferies increased their target from $45 to $60.
• Zions Bancorporation has announced a quarterly dividend increase from $0.43 to $0.45 per share, resulting in an annualized dividend yield of 3.4%.

Dimensional Fund Advisors LP increased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,040,473 shares of the bank's stock after buying an additional 233,252 shares during the period. Dimensional Fund Advisors LP owned 4.77% of Zions Bancorporation, N.A. worth $351,027,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blackhawk Capital Partners LLC. lifted its holdings in shares of Zions Bancorporation, N.A. by 5.3% during 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 during the period. Leo Wealth LLC grew its holdings in Zions Bancorporation, N.A. by 1.7% during the 1st quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after acquiring an additional 253 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Zions Bancorporation, N.A. by 0.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 130,959 shares of the bank's stock valued at $7,100,000 after purchasing an additional 350 shares during the last quarter. Xponance Inc. boosted its stake in shares of Zions Bancorporation, N.A. by 2.4% in the 1st 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 boosted its stake 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 valued at $1,765,000 after purchasing an additional 400 shares during the last quarter. 76.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZION has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of 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. JPMorgan Chase & Co. boosted their price objective on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Keefe, Bruyette & Woods cut their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Truist Financial boosted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, DA Davidson upped their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. Trading Down 0.2%

NASDAQ ZION traded down $0.13 during trading hours on Tuesday, reaching $53.14. The company's stock had a trading volume of 1,205,203 shares, compared to its average volume of 1,607,345. 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. has a 52 week low of $39.32 and a 52 week high of $63.22. The firm has a fifty day simple moving average of $52.91 and a 200-day simple moving average of $50.30. The stock has a market cap of $7.84 billion, a P/E ratio of 9.71, a P/E/G ratio of 1.37 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data 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 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 last year, the firm posted $1.28 EPS. Equities analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a $0.45 dividend. 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 dividend on an annualized basis and a yield of 3.4%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 32.91%.

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.