LSV Asset Management Purchases 136,870 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• LSV Asset Management has increased its holdings in Zions Bancorporation, N.A. by 3.7%, owning a total of 3,791,047 shares, valued at approximately $189 million.
• Analyst reports have upgraded Zions Bancorporation, with JPMorgan lifting the price target from $55 to $63, while Wall Street Zen moved the rating from "sell" to "hold".
• Zions Bancorporation announced a quarterly dividend increase from $0.43 to $0.45 per share, reflecting a solid performance with a payout ratio of 31.44%.

LSV Asset Management grew its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 3.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,791,047 shares of the bank's stock after purchasing an additional 136,870 shares during the period. LSV Asset Management owned about 2.57% of Zions Bancorporation, N.A. worth $189,022,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Zions Bancorporation, N.A. by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock valued at $369,295,000 after purchasing an additional 175,656 shares during the period. First Trust Advisors LP lifted its position in Zions Bancorporation, N.A. by 20.8% during the 4th quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock valued at $123,016,000 after purchasing an additional 390,601 shares during the period. Balyasny Asset Management L.P. lifted its position 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 valued at $88,130,000 after purchasing an additional 1,159,888 shares during the period. Northern Trust Corp lifted its position 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 valued at $79,949,000 after purchasing an additional 284,624 shares during the period. Finally, Invesco Ltd. lifted its position in Zions Bancorporation, N.A. by 9.8% during the 4th quarter. Invesco Ltd. now owns 949,575 shares of the bank's stock valued at $51,514,000 after purchasing an additional 85,009 shares during the period. Institutional investors and hedge funds own 76.84% of the company's stock.

Analyst Ratings Changes

ZION has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target 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. Argus raised Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. upped their price target on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company upped their price target 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, Truist Financial upped their price target on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Zions Bancorporation, N.A. currently has a consensus rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Stock Up 1.3%

Shares of NASDAQ ZION traded up $0.68 during trading hours on Monday, hitting $52.76. The company had a trading volume of 1,756,191 shares, compared to its average volume of 1,621,443. The stock has a market capitalization of $7.79 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 1.37 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. has a 1-year low of $39.32 and a 1-year high of $63.22. The firm's 50 day moving average is $51.85 and its 200-day moving average is $50.73.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced 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. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. 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 posted $1.28 EPS. On average, 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 firm also recently declared 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 annualized dividend 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 31.44%.

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.