Zions Bancorporation, N.A. $ZION Shares Bought by Dimensional Fund Advisors LP

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 holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 about 4.77% of Zions Bancorporation, N.A. worth $351,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. LSV Asset Management lifted its position in 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 worth $189,022,000 after buying an additional 136,870 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Zions Bancorporation, N.A. by 20.8% in the 4th 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 during the period. Balyasny Asset Management L.P. boosted its stake in shares of Zions Bancorporation, N.A. by 249.6% in 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 purchasing an additional 1,159,888 shares during the period. Northern Trust Corp boosted its holdings in Zions Bancorporation, N.A. by 23.9% in the fourth quarter. Northern Trust Corp now owns 1,473,712 shares of the bank's stock valued at $79,949,000 after purchasing an additional 284,624 shares during the period. Finally, Invesco Ltd. increased its holdings in Zions Bancorporation, N.A. by 35.6% during the 1st quarter. Invesco Ltd. now owns 1,287,915 shares of the bank's stock worth $64,215,000 after purchasing an additional 338,340 shares during the period. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Price Performance

Shares of ZION traded down $0.4360 during mid-day trading on Thursday, hitting $53.3440. The company's stock had a trading volume of 275,026 shares, compared to its average volume of 1,596,453. The firm has a 50-day simple moving average of $53.08 and a 200 day simple moving average of $50.35. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $7.87 billion, a P/E ratio of 9.76, a P/E/G ratio of 1.39 and a beta of 0.93. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. The company had revenue of $838.00 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business posted $1.28 earnings per share. Analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be issued 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 annualized dividend and a yield of 3.4%. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ZION shares. Wells Fargo & Company boosted their price target on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Robert W. Baird lifted their target price on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Citigroup lifted their target price 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. Finally, Truist Financial upped their price target on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.78.

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.