GAMMA Investing LLC Boosts Position in Zions Bancorporation, National Association (NASDAQ:ZION)

GAMMA Investing LLC boosted its holdings in Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) by 5,690.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 550,903 shares of the bank's stock after buying an additional 541,389 shares during the period. GAMMA Investing LLC owned 0.37% of Zions Bancorporation, National Association worth $27,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Zions Bancorporation, National Association by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after acquiring an additional 285,588 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Zions Bancorporation, National Association by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock worth $369,295,000 after purchasing an additional 175,656 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Zions Bancorporation, National Association by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after purchasing an additional 194,995 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Zions Bancorporation, National Association by 0.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock valued at $146,396,000 after buying an additional 14,070 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Zions Bancorporation, National Association 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 buying an additional 390,601 shares during the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Trading Up 3.4%

NASDAQ ZION traded up $1.60 on Friday, hitting $49.28. 1,078,530 shares of the stock were exchanged, compared to its average volume of 1,576,405. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a 52-week low of $39.32 and a 52-week high of $63.22. The firm has a market capitalization of $7.27 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.61 and a beta of 0.88. The stock has a fifty day moving average price of $45.95 and a two-hundred day moving average price of $51.98.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. During the same period in the previous year, the company earned $0.96 EPS. Research analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association declared that its Board of Directors has approved a stock buyback plan on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $0.43 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.49%. Zions Bancorporation, National Association's payout ratio is 33.59%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Zions Bancorporation, National Association from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Truist Financial initiated coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, May 13th. They set a "hold" rating and a $52.00 price objective for the company. Royal Bank of Canada cut their price objective on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 22nd. Argus upgraded Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research report on Monday, April 28th. Finally, Stephens cut their price target on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association 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.