Nuveen LLC Invests $16.88 Million in Zions Bancorporation, N.A. $ZION

Key Points

• Nuveen LLC has acquired a new stake in Zions Bancorporation, purchasing 338,525 shares valued at approximately $16.88 million, representing about 0.23% ownership of the bank.
• The company has recently increased its quarterly dividend from $0.43 to $0.45 per share, reflecting a positive growth trend in shareholder returns.
• Analysts show general optimism for Zions Bancorporation with an average target price of $60.78 and a consensus rating of "Hold," indicating a stable outlook despite economic fluctuations.

Nuveen LLC bought a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 338,525 shares of the bank's stock, valued at approximately $16,879,000. Nuveen LLC owned 0.23% of Zions Bancorporation, N.A. at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ZION. Balyasny Asset Management L.P. grew its position in shares of Zions Bancorporation, N.A. by 249.6% in 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. Freestone Grove Partners LP acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at approximately $51,116,000. GAMMA Investing LLC grew its position in shares of Zions Bancorporation, N.A. by 5,690.4% in the 1st quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock valued at $27,468,000 after purchasing an additional 541,389 shares during the period. BNP Paribas Financial Markets grew its position in shares of Zions Bancorporation, N.A. by 413.0% in the 4th quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock valued at $26,222,000 after purchasing an additional 389,148 shares during the period. Finally, Invesco Ltd. grew its position in shares of Zions Bancorporation, N.A. by 35.6% in the 1st quarter. Invesco Ltd. now owns 1,287,915 shares of the bank's stock valued at $64,215,000 after purchasing an additional 338,340 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZION has been the subject of several research analyst reports. Argus upgraded Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research report on Monday, April 28th. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Royal Bank Of Canada upped their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research report 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 stock an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, DA Davidson upped their price target on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Stock Up 1.6%

Shares of Zions Bancorporation, N.A. stock traded up $0.91 on Tuesday, reaching $56.82. 1,254,163 shares of the company were exchanged, compared to its average volume of 1,406,280. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 10.39, 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. The company has a 50-day moving average of $53.69 and a 200 day moving average of $50.25.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $838.00 million for the quarter, compared to analysts' expectations of $810.24 million. During the same quarter in the prior year, the business posted $1.28 EPS. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) 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.