Mirae Asset Global Investments Co. Ltd. Makes New Investment in Zions Bancorporation, N.A. $ZION

Key Points

• Mirae Asset Global Investments purchased 15,664 shares of Zions Bancorporation, valued at approximately $814,000, marking a new investment in the company.
• A recent analysis shows Zions has an average rating of "Hold" with price targets raised by multiple firms, including Robert W. Baird and JPMorgan Chase & Co.
• Zions Bancorporation recently increased its quarterly dividend to $0.45 per share, reflecting a 3.4% yield and indicating a healthy payout ratio of 32.91%.

Mirae Asset Global Investments Co. Ltd. bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,664 shares of the bank's stock, valued at approximately $814,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Lynx Investment Advisory grew its holdings in shares of Zions Bancorporation, N.A. by 3.5% in the second quarter. Lynx Investment Advisory now owns 6,371 shares of the bank's stock worth $331,000 after acquiring an additional 213 shares during the period. Blackhawk Capital Partners LLC. grew its holdings in shares of Zions Bancorporation, N.A. by 5.3% in the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after acquiring an additional 245 shares during the period. Leo Wealth LLC grew its holdings in shares of Zions Bancorporation, N.A. by 1.7% in the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after acquiring an additional 253 shares during the period. Wedmont Private Capital grew its holdings in shares of Zions Bancorporation, N.A. by 2.6% in the second quarter. Wedmont Private Capital now owns 10,136 shares of the bank's stock worth $564,000 after acquiring an additional 256 shares during the period. Finally, MAI Capital Management grew its holdings in shares of Zions Bancorporation, N.A. by 1.5% in the first quarter. MAI Capital Management now owns 19,591 shares of the bank's stock worth $977,000 after acquiring an additional 293 shares during the period. Institutional investors own 76.84% of the company's stock.

Analyst Ratings Changes

ZION has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen raised Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their price target for the company from $45.00 to $60.00 in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company boosted their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of "Hold" and an average price target of $61.45.

Zions Bancorporation, N.A. Price Performance

Shares of Zions Bancorporation, N.A. stock opened at $52.35 on Friday. The stock has a 50 day moving average of $55.87 and a 200 day moving average of $51.43. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The firm has a market cap of $7.73 billion, a PE ratio of 9.57, a PEG ratio of 1.46 and a beta of 0.93. 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 announced its quarterly earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The company had revenue of $705.00 million during the quarter. On average, research analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 14th. This is a boost 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 3.4%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 32.91%.

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.

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