LSV Asset Management Increases Stock Holdings in 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 increased its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,791,047 shares of the bank's stock after buying an additional 136,870 shares during the quarter. LSV Asset Management owned about 2.57% of Zions Bancorporation, N.A. worth $189,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ZION. Picton Mahoney Asset Management acquired a new position in shares of Zions Bancorporation, N.A. in the first quarter worth $25,000. Curat Global LLC bought a new stake in shares of Zions Bancorporation, N.A. in the first quarter valued at about $25,000. Covestor Ltd lifted 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 valued at $46,000 after buying an additional 479 shares during the period. Princeton Global Asset Management LLC bought a new position in Zions Bancorporation, N.A. during the first quarter worth about $50,000. Finally, CX Institutional bought a new position in Zions Bancorporation, N.A. during the first quarter worth about $53,000. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Stock Down 1.8%

Shares of Zions Bancorporation, N.A. stock traded down $0.95 on Wednesday, reaching $51.52. The stock had a trading volume of 1,437,691 shares, compared to its average volume of 1,615,448. The company has a 50 day moving average price of $52.07 and a 200 day moving average price of $50.70. 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 stock has a market capitalization of $7.60 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.39 and a beta of 0.93.

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 for the quarter, topping the consensus estimate of $1.31 by $0.27. The company had revenue of $838.00 million for 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 in the previous year, the firm earned $1.28 EPS. As a group, equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS 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. Shareholders of record on Thursday, August 14th will be given 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 3.5%. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is presently 31.44%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ZION shares. Morgan Stanley lifted 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. Wells Fargo & Company increased their price objective on shares of 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. Robert W. Baird increased 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. Truist Financial lifted their price target on shares of 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. Finally, Keefe, Bruyette & Woods cut their price target on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Company 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.