338,525 Shares in Zions Bancorporation, N.A. $ZION Acquired by Nuveen LLC

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 acquired a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 338,525 shares of the bank's stock, valued at approximately $16,879,000. Nuveen LLC owned 0.23% of Zions Bancorporation, N.A. as of its most recent SEC filing.

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

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $2.36 during mid-day trading on Friday, reaching $55.86. 1,594,505 shares of the company traded hands, compared to its average volume of 1,402,345. The company's 50 day moving average price is $53.34 and its 200-day moving average price is $50.32. The firm has a market cap of $8.25 billion, a PE ratio of 10.21, a PEG ratio of 1.46 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. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22.

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, beating analysts' consensus estimates of $1.31 by $0.27. The company had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.During the same period in the previous year, the company posted $1.28 EPS. On average, equities analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed 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. This is a boost 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 3.2%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 32.91%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZION. Robert W. Baird boosted their price target on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Morgan Stanley boosted their price target on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Citigroup boosted their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. DA Davidson boosted their price target on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, 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 research note on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.78.

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.