Invesco Ltd. Purchases 338,340 Shares of 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. raised its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 35.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,287,915 shares of the bank's stock after buying an additional 338,340 shares during the period. Invesco Ltd. owned about 0.87% of Zions Bancorporation, N.A. worth $64,215,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ZION. Blackhawk Capital Partners LLC. boosted its holdings in shares of Zions Bancorporation, N.A. by 5.3% during the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after purchasing an additional 245 shares during the period. Leo Wealth LLC lifted its holdings in Zions Bancorporation, N.A. by 1.7% in the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after buying an additional 253 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Zions Bancorporation, N.A. by 0.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 130,959 shares of the bank's stock worth $7,100,000 after buying an additional 350 shares during the period. Xponance Inc. lifted its holdings in Zions Bancorporation, N.A. by 2.4% in the first quarter. Xponance Inc. now owns 17,053 shares of the bank's stock worth $850,000 after buying an additional 394 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in Zions Bancorporation, N.A. by 1.1% in the first quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock worth $1,765,000 after buying an additional 400 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ZION. 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 report on Wednesday, July 2nd. 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 report on Tuesday, July 22nd. Royal Bank Of Canada raised their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $60.78.

Zions Bancorporation, N.A. Stock Down 0.5%

Shares of NASDAQ ZION traded down $0.28 on Thursday, reaching $53.50. 1,067,730 shares of the company's stock traded hands, compared to its average volume of 1,453,311. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The business's 50 day simple moving average is $53.17 and its two-hundred day simple moving average is $50.33. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.93. 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 announced its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating 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 the consensus estimate of $810.24 million. During the same quarter last year, the firm earned $1.28 earnings per share. As a group, equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 14th. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

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.