Jacobs Levy Equity Management Inc. Has $7.22 Million Holdings in Zions Bancorporation, N.A. $ZION

Jacobs Levy Equity Management Inc. grew its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,840 shares of the bank's stock after buying an additional 28,179 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.10% of Zions Bancorporation, N.A. worth $7,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Oppenheimer & Co. Inc. bought a new position in Zions Bancorporation, N.A. during the first quarter worth $224,000. Principal Financial Group Inc. lifted its stake in Zions Bancorporation, N.A. by 0.5% during the first quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank's stock worth $16,956,000 after purchasing an additional 1,561 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Zions Bancorporation, N.A. during the first quarter worth $3,383,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Zions Bancorporation, N.A. during the first quarter worth $1,261,000. Finally, Teacher Retirement System of Texas lifted its stake in Zions Bancorporation, N.A. by 6.2% during the first quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank's stock worth $2,401,000 after purchasing an additional 2,821 shares during the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. DA Davidson raised their target price on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Morgan Stanley raised their target price on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their target price on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $60.95.

Zions Bancorporation, N.A. Price Performance

NASDAQ:ZION traded up $0.16 during mid-day trading on Friday, reaching $58.42. 1,343,024 shares of the stock were exchanged, compared to its average volume of 1,251,049. The business has a fifty day moving average price of $55.33 and a 200 day moving average price of $50.49. The firm has a market capitalization of $8.62 billion, a PE ratio of 10.68, a PEG ratio of 1.52 and a beta of 0.97. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year 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.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. The firm had revenue of $838.00 million for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $1.28 earnings per share. Research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 3.1%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 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.