Pallas Capital Advisors LLC Sells 6,124 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Pallas Capital Advisors LLC reduced its stake in Zions Bancorporation by 43.5%, owning 7,959 shares valued at $413,000 after selling 6,124 shares in the second quarter.
• Zions Bancorporation reported earnings of $1.58 per share for the last quarter, outperforming expectations of $1.31, while also increasing its quarterly dividend from $0.43 to $0.45 per share.
• Equities analysts have raised their price targets for Zions Bancorporation, with the average target now set at $60.95 and a consensus rating of "Hold."

Pallas Capital Advisors LLC decreased its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 43.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,959 shares of the bank's stock after selling 6,124 shares during the period. Pallas Capital Advisors LLC's holdings in Zions Bancorporation, N.A. were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ZION. ProShare Advisors LLC boosted its position in shares of Zions Bancorporation, N.A. by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 6,912 shares of the bank's stock valued at $375,000 after purchasing an additional 473 shares in the last quarter. State of Wyoming bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $180,000. Tidal Investments LLC boosted its position in shares of Zions Bancorporation, N.A. by 7.8% during the 4th quarter. Tidal Investments LLC now owns 5,718 shares of the bank's stock valued at $310,000 after purchasing an additional 413 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Zions Bancorporation, N.A. by 16.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,201 shares of the bank's stock valued at $27,244,000 after purchasing an additional 71,795 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $311,000. Institutional investors own 76.84% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on ZION shares. Royal Bank Of Canada raised their target price 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. Citigroup raised their target price 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. Wells Fargo & Company raised their target price on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Truist Financial raised their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley raised their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of "Hold" and a consensus price target of $60.95.

Zions Bancorporation, N.A. Stock Up 0.4%

Shares of NASDAQ ZION traded up $0.22 during mid-day trading on Tuesday, reaching $57.31. The company had a trading volume of 405,610 shares, compared to its average volume of 1,582,554. The stock has a fifty day moving average of $55.53 and a two-hundred day moving average of $50.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.53 and a beta of 0.97. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $838.00 million during 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 period in the prior year, the firm earned $1.28 earnings per share. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

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

Zions Bancorporation, N.A. 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.