Invesco Ltd. Boosts Stock Holdings in Zions Bancorporation, N.A. $ZION

Key Points

• Invesco Ltd. has increased its stake in Zions Bancorporation, N.A. by 35.6%, acquiring an additional 338,340 shares, bringing its total ownership to approximately 1.29 million shares valued at $64.2 million.
• Zions Bancorporation recently reported an earnings per share of $1.58 for the quarter, exceeding analyst expectations, alongside a revenue of $838 million.
• The company has declared an increase in its quarterly dividend to $0.45 per share, signifying a 3.4% yield, with the dividend payout ratio standing at 32.91%.

Invesco Ltd. boosted its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 35.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,287,915 shares of the bank's stock after buying an additional 338,340 shares during the quarter. Invesco Ltd. owned approximately 0.87% of Zions Bancorporation, N.A. worth $64,215,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Zions Bancorporation, N.A. by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock valued at $369,295,000 after buying an additional 175,656 shares during the last quarter. LSV Asset Management raised its holdings in Zions Bancorporation, N.A. by 3.7% in the 1st quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock valued at $189,022,000 after buying an additional 136,870 shares during the last quarter. First Trust Advisors LP raised 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 valued at $123,016,000 after buying an additional 390,601 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in 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 worth $88,130,000 after purchasing an additional 1,159,888 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Zions Bancorporation, N.A. by 23.9% during the 4th quarter. Northern Trust Corp now owns 1,473,712 shares of the bank's stock worth $79,949,000 after purchasing an additional 284,624 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Down 0.2%

NASDAQ ZION traded down $0.13 during mid-day trading on Tuesday, hitting $53.14. The company's stock had a trading volume of 1,205,203 shares, compared to its average volume of 1,607,345. The company's 50 day simple moving average is $52.91 and its 200 day simple moving average is $50.30. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.37 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating 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 net margin of 16.98% and a return on equity of 13.76%. During the same quarter last year, the firm posted $1.28 EPS. Analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed 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 positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

Analyst Upgrades and Downgrades

ZION has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and raised their price target for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd. Morgan Stanley raised their price target on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Keefe, Bruyette & Woods reduced their price objective 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 report on Tuesday, April 22nd. Citigroup raised 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 research report on Wednesday, July 2nd. Finally, Robert W. Baird raised their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Four investment 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, Zions Bancorporation, N.A. currently has a consensus rating of "Hold" and a consensus 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.