Zions Bancorporation, N.A. $ZION Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Zions Bancorporation by 188.6% during the 1st quarter, bringing its holdings to approximately $7.57 million.
• Zions Bancorporation recently declared a quarterly dividend of $0.45, representing a 3.1% yield, and a slight increase from the previous dividend.
• Wall Street analysts have updated their price targets for Zions Bancorporation, with a consensus price target of $60.78 and many analysts maintaining a "Hold" rating.

Ieq Capital LLC raised its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 188.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,797 shares of the bank's stock after acquiring an additional 99,205 shares during the quarter. Ieq Capital LLC owned approximately 0.10% of Zions Bancorporation, N.A. worth $7,569,000 as of its most recent filing with the Securities & Exchange Commission.

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

Zions Bancorporation, N.A. Stock Down 0.6%

NASDAQ ZION traded down $0.36 during trading on Wednesday, hitting $56.94. The company's stock had a trading volume of 204,742 shares, compared to its average volume of 1,582,568. 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 market cap of $8.41 billion, a PE ratio of 10.42, a P/E/G ratio of 1.51 and a beta of 0.97. The business's 50 day simple moving average is $54.58 and its 200-day simple moving average is $50.32. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week 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 for the quarter, topping the consensus estimate of $1.31 by $0.27. The business 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 earned $1.28 earnings per share. On average, equities analysts anticipate 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. Shareholders of record on Thursday, August 14th were issued a $0.45 dividend. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is 32.91%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ZION. Citigroup upped 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. JPMorgan Chase & Co. upped their target price on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Truist Financial upped their target price 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. Royal Bank Of Canada upped their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.