Entropy Technologies LP Acquires New Stake in Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Entropy Technologies LP has invested approximately $837,000 in Zions Bancorporation, acquiring 16,795 shares, according to their recent SEC filing.
• Zions Bancorporation has announced a quarterly dividend increase from $0.43 to $0.45, translating to an annualized dividend of $1.80 and a yield of 3.4%.
• ZIONS stock recently performed well, opening at $53.16 with a market cap of $7.85 billion and beating analysts' earnings estimates for the last quarter.

Entropy Technologies LP acquired 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 disclosure with the SEC. The firm acquired 16,795 shares of the bank's stock, valued at approximately $837,000.

A number of other hedge funds have also recently made changes to their positions in ZION. Curat Global LLC purchased a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $25,000. Picton Mahoney Asset Management purchased a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $25,000. New Age Alpha Advisors LLC purchased a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $40,000. Covestor Ltd lifted its holdings in Zions Bancorporation, N.A. by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after buying an additional 479 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ZION shares. Stephens reduced their price objective on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird increased 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. Royal Bank Of Canada increased their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" 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 increased their price objective for the company from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Finally, Truist Financial increased their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded down $1.10 during midday trading on Friday, hitting $52.67. The stock had a trading volume of 1,075,142 shares, compared to its average volume of 1,613,386. The company has a market capitalization of $7.78 billion, a PE ratio of 9.63, a P/E/G ratio of 1.40 and a beta of 0.93. The stock has a 50 day moving average price of $52.77 and a two-hundred day moving average price of $50.48. 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. 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 issued 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 for 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 quarter in the previous year, the firm earned $1.28 earnings per share. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share 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. Shareholders of record on Thursday, August 14th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 14th. Zions Bancorporation, N.A.'s payout ratio is currently 31.44%.

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.