Jefferies Financial Group Inc. Invests $1.04 Million in Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Jefferies Financial Group Inc. purchased a new position in Zions Bancorporation, N.A., acquiring 20,878 shares valued at approximately $1.04 million during the first quarter.
• Zions Bancorporation, N.A. recently increased its quarterly dividend from $0.43 to $0.45 per share, resulting in an annualized dividend of $1.80 and a yield of 3.4%.
• Analysts have raised their target prices for Zions Bancorporation, N.A., with JPMorgan and Morgan Stanley increasing theirs to $63.00 and $66.00 respectively, while many analysts maintain a consensus rating of "Hold."

Jefferies Financial Group Inc. purchased a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,878 shares of the bank's stock, valued at approximately $1,041,000.

Other large investors have also modified their holdings of the company. Curat Global LLC bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $25,000. Picton Mahoney Asset Management acquired a new position in Zions Bancorporation, N.A. during the 1st quarter worth $25,000. Covestor Ltd grew its stake in shares of Zions Bancorporation, N.A. by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after purchasing an additional 479 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of Zions Bancorporation, N.A. during the first quarter valued at $50,000. Finally, CX Institutional bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at about $53,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Up 1.6%

Zions Bancorporation, N.A. stock traded up $0.81 during trading hours on Friday, hitting $52.01. The company had a trading volume of 526,359 shares, compared to its average volume of 1,612,819. The firm has a market capitalization of $7.68 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 1.35 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. The firm's fifty day moving average is $52.23 and its 200-day moving average is $50.66. 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 announced 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 during the quarter, compared to analysts' expectations 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 in the prior year, the business earned $1.28 earnings per share. On average, research analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s dividend payout ratio is currently 31.44%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ZION shares. Argus upgraded shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Monday, April 28th. DA Davidson upped their target price on 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. Citigroup lifted their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada upped their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley boosted 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 research report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $60.78.

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.