6,252 Shares in Zions Bancorporation, N.A. $ZION Bought by Ground Swell Capital LLC

Key Points

• Ground Swell Capital LLC has invested $312,000 in Zions Bancorporation, N.A., acquiring 6,252 shares during the 1st quarter of the year.
• Zions Bancorporation has a consensus rating of "Hold" among analysts, with a current average target price of $60.78 per share.
• The company recently increased its quarterly dividend from $0.43 to $0.45 per share, resulting in a dividend yield of 3.3%.

Ground Swell Capital LLC acquired a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,252 shares of the bank's stock, valued at approximately $312,000.

Several other hedge funds have also recently modified their holdings of ZION. Balyasny Asset Management L.P. increased its holdings in shares of Zions Bancorporation, N.A. by 249.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after acquiring an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP acquired a new position in Zions Bancorporation, N.A. in the 4th quarter worth approximately $51,116,000. GAMMA Investing LLC increased its holdings in Zions Bancorporation, N.A. by 5,690.4% in the 1st quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock worth $27,468,000 after buying an additional 541,389 shares during the period. First Trust Advisors LP increased its holdings in Zions Bancorporation, N.A. by 20.8% in the 4th quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after buying an additional 390,601 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Zions Bancorporation, N.A. by 413.0% in the 4th quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock worth $26,222,000 after buying an additional 389,148 shares during the period. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analyst Weigh In

ZION has been the topic of several research reports. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Truist Financial upped their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Argus upgraded Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Stock Up 1.1%

Shares of ZION stock traded up $0.60 during trading hours on Monday, reaching $53.27. The company had a trading volume of 1,071,134 shares, compared to its average volume of 1,609,812. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The company has a market capitalization of $7.86 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 1.37 and a beta of 0.93. The stock's fifty day simple moving average is $52.83 and its 200 day simple moving average is $50.34.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its 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. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. The business had revenue of $838.00 million during the quarter, compared to analyst estimates of $810.24 million. During the same quarter last year, the firm earned $1.28 earnings per share. As a group, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.4%. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) 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.