Harvest Fund Management Co. Ltd Grows Stock Holdings in Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Harvest Fund Management Co. Ltd increased its stake in Zions Bancorporation, N.A. by 49.6% during the 1st quarter, holding 15,698 shares valued at $829,000.
• Zions Bancorporation recently reported an EPS of $1.58, beating analyst estimates of $1.31, and had revenues of $838 million for the quarter.
• The stock has a consensus rating of "Hold" from analysts, with a target price averaging $60.78, influenced by various revisions from multiple financial institutions.

Harvest Fund Management Co. Ltd increased its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 49.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,698 shares of the bank's stock after buying an additional 5,207 shares during the period. Harvest Fund Management Co. Ltd's holdings in Zions Bancorporation, N.A. were worth $829,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $73,542,000. Balyasny Asset Management L.P. grew its position in shares of Zions Bancorporation, N.A. by 249.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after purchasing an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $51,116,000. GAMMA Investing LLC grew its position in shares of Zions Bancorporation, N.A. by 5,690.4% during the 1st quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock valued at $27,468,000 after purchasing an additional 541,389 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Zions Bancorporation, N.A. by 20.8% in the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after acquiring an additional 390,601 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Price Performance

NASDAQ ZION traded down $1.54 on Friday, reaching $52.08. The company had a trading volume of 1,451,079 shares, compared to its average volume of 1,548,889. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The stock has a market capitalization of $7.69 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The firm's 50 day moving average price is $51.85 and its 200 day moving average price is $50.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. During the same period last year, the company posted $1.28 EPS. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Analysts Set New Price Targets

ZION has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods decreased their price target on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Citigroup upped their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Morgan Stanley increased their price target on shares of 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. Finally, Royal Bank Of Canada increased their price target on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.78.

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.