Nordea Investment Management AB Purchases 33,449 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Nordea Investment Management AB increased its holdings in Zions Bancorporation by 15.0%, now owning 256,710 shares valued at $13.35 million.
• Zions Bancorporation recently increased its quarterly dividend from $0.43 to $0.45 per share, reflecting a 3.6% dividend yield.
• Wall Street analysts generally rate Zions Bancorporation with a consensus of "Hold", with a price target of approximately $61.33.

Nordea Investment Management AB boosted its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 15.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,710 shares of the bank's stock after purchasing an additional 33,449 shares during the quarter. Nordea Investment Management AB owned approximately 0.17% of Zions Bancorporation, N.A. worth $13,349,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Zions Bancorporation, N.A. by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank's stock worth $351,027,000 after purchasing an additional 233,252 shares in the last quarter. LSV Asset Management increased its holdings in shares of Zions Bancorporation, N.A. by 3.7% during the first quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock valued at $189,022,000 after acquiring an additional 136,870 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Zions Bancorporation, N.A. by 326.4% during the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock valued at $139,927,000 after acquiring an additional 2,194,514 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Zions Bancorporation, N.A. by 9.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,834,949 shares of the bank's stock valued at $147,247,000 after acquiring an additional 240,329 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Zions Bancorporation, N.A. by 57.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock valued at $106,368,000 after acquiring an additional 778,861 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZION has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Zions Bancorporation, N.A. in a research report on Wednesday, October 8th. TD Cowen initiated coverage on shares of Zions Bancorporation, N.A. in a report on Thursday, September 25th. They issued a "hold" rating and a $64.00 price target on the stock. Evercore ISI increased their price target on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.33.

Zions Bancorporation, N.A. Trading Up 5.8%

Shares of NASDAQ:ZION opened at $49.67 on Monday. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.07 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 business's 50 day moving average price is $55.87 and its 200-day moving average price is $51.56.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The firm had revenue of $705.00 million for the quarter. On average, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $0.45 per share. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.6%. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

About Zions Bancorporation, N.A.

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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