Graham Capital Management L.P. Buys Shares of 36,411 Zions Bancorporation, N.A. $ZION

Key Points

• Graham Capital Management L.P. has made a new investment of approximately $1.82 million in Zions Bancorporation, acquiring 36,411 shares during the first quarter.
• According to recent analysis, Zions Bancorporation's stock has a consensus rating of "Hold" with a price target with expectations ranging from $57.00 to $65.00 by various financial institutions.
• Zions Bancorporation recently increased its quarterly dividend to $0.45 per share, reflecting a boost from the previous quarter and a dividend yield of 3.1%.

Graham Capital Management L.P. purchased a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,411 shares of the bank's stock, valued at approximately $1,815,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp raised its stake in shares of Zions Bancorporation, N.A. by 23.9% during 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. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $241,000. AXA S.A. raised its stake in shares of Zions Bancorporation, N.A. by 243.8% during the fourth quarter. AXA S.A. now owns 142,089 shares of the bank's stock valued at $7,708,000 after purchasing an additional 100,759 shares during the period. Algert Global LLC raised its stake in shares of Zions Bancorporation, N.A. by 14.6% during the fourth quarter. Algert Global LLC now owns 105,179 shares of the bank's stock valued at $5,706,000 after purchasing an additional 13,395 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Zions Bancorporation, N.A. by 413.0% during the fourth quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock valued at $26,222,000 after purchasing an additional 389,148 shares during the period. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Down 2.7%

Shares of NASDAQ:ZION traded down $1.59 during midday trading on Friday, reaching $56.52. The company had a trading volume of 1,643,360 shares, compared to its average volume of 1,223,007. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock's fifty day moving average price is $54.96 and its 200-day moving average price is $50.38. The stock has a market capitalization of $8.34 billion, a P/E ratio of 10.33, a PEG ratio of 1.52 and a beta of 0.97. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released 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. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $810.24 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Equities research analysts expect 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 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. The ex-dividend date was 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 3.2%. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ZION shares. Royal Bank Of Canada lifted their price objective on shares of 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 shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price objective for the company from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Truist Financial lifted their price objective on shares of 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. Morgan Stanley lifted their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Finally, DA Davidson lifted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Four investment 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 data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.