Zions Bancorporation, N.A. $ZION Stock Position Raised by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has significantly increased its holdings in Zions Bancorporation, N.A. by 443.5%, acquiring an additional 369,052 shares in the first quarter, bringing its total ownership to approximately 0.31% valued at $22.55 million.
• Zions Bancorporation recently reported $1.58 EPS for the quarter, exceeding analysts' expectations of $1.31, with revenue of $838 million that also surpassed forecasts.
• The company has recently increased its quarterly dividend to $0.45 per share, representing a boost from its previous $0.43 and a dividend yield of 3.2%.

MetLife Investment Management LLC increased its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 443.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 452,263 shares of the bank's stock after purchasing an additional 369,052 shares during the period. MetLife Investment Management LLC owned 0.31% of Zions Bancorporation, N.A. worth $22,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new position in Zions Bancorporation, N.A. in the 1st quarter worth $224,000. Principal Financial Group Inc. lifted its holdings in Zions Bancorporation, N.A. by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank's stock worth $16,956,000 after buying an additional 1,561 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Zions Bancorporation, N.A. in the 1st quarter worth $3,383,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Zions Bancorporation, N.A. in the 1st quarter worth $1,261,000. Finally, Teacher Retirement System of Texas lifted its holdings in Zions Bancorporation, N.A. by 6.2% in the 1st quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank's stock worth $2,401,000 after buying an additional 2,821 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Up 2.1%

Shares of Zions Bancorporation, N.A. stock traded up $1.18 during trading on Wednesday, reaching $58.00. The company had a trading volume of 2,001,632 shares, compared to its average volume of 1,421,888. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The firm's fifty day moving average is $53.89 and its 200-day moving average is $50.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. 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 issued its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. The business had revenue of $838.00 million for the quarter, compared to analyst estimates 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 prior year, the business posted $1.28 EPS. On average, analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is currently 32.91%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZION. Citigroup boosted 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. JPMorgan Chase & Co. boosted 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. 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. Royal Bank Of Canada boosted 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. Finally, Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and upped their target price for the company from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently 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.