Hsbc Holdings PLC Boosts Position in Zions Bancorporation, N.A. $ZION

Key Points

• Hsbc Holdings PLC increased its stake in Zions Bancorporation, N.A. by 13.7% in the first quarter, bringing its total holdings to 43,090 shares worth approximately $2.14 million.
• Analysts have raised their price targets for Zions Bancorporation, with DA Davidson setting a new target of $66.00 and maintaining a "buy" rating.
• Zions Bancorporation recently increased its quarterly dividend from $0.43 to $0.45 per share, reflecting a 3.1% yield.

Hsbc Holdings PLC grew its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,090 shares of the bank's stock after buying an additional 5,202 shares during the quarter. Hsbc Holdings PLC's holdings in Zions Bancorporation, N.A. were worth $2,139,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Balyasny Asset Management L.P. lifted its holdings 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 acquiring an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Zions Bancorporation, N.A. in the fourth quarter valued at about $51,116,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 57.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock worth $106,368,000 after purchasing an additional 778,861 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Zions Bancorporation, N.A. by 5,690.4% in the first 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. Finally, BNP Paribas Financial Markets grew its stake in shares of Zions Bancorporation, N.A. by 413.0% in the fourth quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock valued at $26,222,000 after buying an additional 389,148 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on ZION shares. Royal Bank Of Canada boosted their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. DA Davidson boosted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and upped their target price for the company from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Truist Financial lifted 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. Finally, Citigroup boosted 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. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Trading Up 2.1%

NASDAQ ZION opened at $58.00 on Thursday. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The company's fifty day moving average price is $53.89 and its two-hundred day moving average price is $50.31.

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, topping 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 company had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. During the same quarter in the previous year, the firm earned $1.28 EPS. As a group, research analysts predict 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 disclosed 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 an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.1%. Zions Bancorporation, N.A.'s payout ratio is currently 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.

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