Great Lakes Advisors LLC Takes $6.25 Million Position in Zions Bancorporation, N.A. $ZION

Key Points

• Great Lakes Advisors LLC has purchased a new stake in Zions Bancorporation, N.A., acquiring approximately $6.25 million for 125,272 shares, representing about 0.08% ownership of the bank.
• Zions Bancorporation has recently increased its quarterly dividend from $0.43 to $0.45, resulting in an annualized yield of 3.2% and a payout ratio of 32.91%.
• Following positive earnings results, several analysts have lifted their price targets for Zions Bancorporation, with rates ranging from $52.00 to $66.00, indicating a consensus rating of "Hold."

Great Lakes Advisors LLC purchased a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 125,272 shares of the bank's stock, valued at approximately $6,246,000. Great Lakes Advisors LLC owned about 0.08% of Zions Bancorporation, N.A. at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ZION. Curat Global LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $25,000. Picton Mahoney Asset Management acquired a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $25,000. New Age Alpha Advisors LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $40,000. Princeton Global Asset Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $52,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION opened at $56.90 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $55.13 and its two-hundred day moving average is $50.38. The company has a market cap of $8.40 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.49 and a beta of 0.97. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month 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 EPS for the quarter, topping the consensus estimate of $1.31 by $0.27. The company had revenue of $838.00 million for 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 period in the previous year, the business posted $1.28 EPS. On average, equities analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

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

Analyst Upgrades and Downgrades

ZION has been the subject of several research reports. Morgan Stanley lifted their price target on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Robert W. Baird boosted their target price 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. DA Davidson boosted their target price 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. Citigroup boosted their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company boosted their target price 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. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of "Hold" and an average 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.

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