Elizabeth Park Capital Advisors Ltd. Makes New $2.25 Million Investment in Zions Bancorporation, N.A. $ZION

Key Points

• Elizabeth Park Capital Advisors Ltd. invested approximately $2.25 million in Zions Bancorporation, acquiring 45,090 shares during the first quarter, making it the firm's 29th largest holding.
• Zions Bancorporation recently reported $1.58 earnings per share for the quarter, surpassing analysts' expectations, and announced a quarterly dividend increase to $0.45 per share, reflecting a dividend yield of 3.2%.
• Several analysts have boosted their price targets for Zions Bancorporation, with recommendations ranging from "Hold" to "Buy," and a consensus target price of approximately $60.78.

Elizabeth Park Capital Advisors Ltd. bought a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 45,090 shares of the bank's stock, valued at approximately $2,248,000. Zions Bancorporation, N.A. comprises about 2.0% of Elizabeth Park Capital Advisors Ltd.'s portfolio, making the stock its 29th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ieq Capital LLC increased its stake in Zions Bancorporation, N.A. by 188.6% during the first quarter. Ieq Capital LLC now owns 151,797 shares of the bank's stock worth $7,569,000 after acquiring an additional 99,205 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Zions Bancorporation, N.A. during the first quarter worth approximately $5,589,000. Virtus Advisers LLC acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter worth approximately $80,000. MetLife Investment Management LLC raised its stake in shares of Zions Bancorporation, N.A. by 443.5% during the 1st quarter. MetLife Investment Management LLC now owns 452,263 shares of the bank's stock worth $22,550,000 after buying an additional 369,052 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $2,098,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $56.82 on Wednesday. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.46 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. The business has a 50 day moving average price of $53.69 and a two-hundred day moving average price of $50.25. 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. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.27. The company had revenue of $838.00 million for the quarter, compared to analysts' expectations of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.During the same quarter in the prior year, the company earned $1.28 earnings per share. Research analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.80 annualized dividend and a yield of 3.2%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 32.91%.

Analyst Ratings Changes

ZION has been the subject of several research analyst reports. Robert W. Baird raised their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group upgraded Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their price objective for the stock from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Royal Bank Of Canada boosted their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Truist Financial lifted their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. 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 investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Zions Bancorporation, N.A. presently has a consensus 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.

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