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

A number of other hedge funds also recently modified their holdings of the stock. Blackhawk Capital Partners LLC. raised its holdings in shares of Zions Bancorporation, N.A. by 5.3% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after purchasing an additional 245 shares during the period. Leo Wealth LLC raised its holdings in shares of Zions Bancorporation, N.A. by 1.7% in the 1st quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after purchasing an additional 253 shares during the period. MAI Capital Management raised its holdings in shares of Zions Bancorporation, N.A. by 1.5% in the 1st quarter. MAI Capital Management now owns 19,591 shares of the bank's stock worth $977,000 after purchasing an additional 293 shares during the period. Xponance Inc. raised its holdings in shares of Zions Bancorporation, N.A. by 2.4% in the 1st quarter. Xponance Inc. now owns 17,053 shares of the bank's stock worth $850,000 after purchasing an additional 394 shares during the period. Finally, State of Michigan Retirement System increased its holdings in Zions Bancorporation, N.A. by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock worth $1,765,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ZION shares. Truist Financial lifted their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on 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. DA Davidson lifted their price objective on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price objective for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd. Finally, Robert W. Baird lifted their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Four 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. According to data from MarketBeat, Zions Bancorporation, N.A. currently has an average rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION traded down $1.59 on Friday, hitting $56.52. The company's stock had a trading volume of 1,643,360 shares, compared to its average volume of 1,237,740. The company has a market capitalization of $8.34 billion, a PE ratio of 10.33, a PEG ratio of 1.47 and a beta of 0.97. 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 company has a 50-day simple moving average of $54.96 and a 200 day simple moving average of $50.31. 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 quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. The firm had revenue of $838.00 million during the quarter, compared to the consensus estimate 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 last year, the company posted $1.28 EPS. Sell-side analysts forecast 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 was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $0.45 per share. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.2%. Zions Bancorporation, N.A.'s dividend payout ratio is 32.91%.

Zions Bancorporation, N.A. 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.