Pallas Capital Advisors LLC Lowers Stake in Zions Bancorporation, N.A. $ZION

Pallas Capital Advisors LLC lowered its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 43.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,959 shares of the bank's stock after selling 6,124 shares during the quarter. Pallas Capital Advisors LLC's holdings in Zions Bancorporation, N.A. were worth $413,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Curat Global LLC purchased a new position in Zions Bancorporation, N.A. in the 1st quarter worth $25,000. Picton Mahoney Asset Management purchased a new position in Zions Bancorporation, N.A. in the 1st quarter worth $25,000. New Age Alpha Advisors LLC purchased a new position in Zions Bancorporation, N.A. in the 1st quarter worth $40,000. Princeton Global Asset Management LLC purchased a new position in Zions Bancorporation, N.A. in the 1st quarter worth $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Zions Bancorporation, N.A. in the 1st quarter worth $52,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Down 0.8%

ZION opened at $58.70 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $55.53 and a 200-day moving average price of $50.67. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.53 and a beta of 0.97.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. During the same period in the previous year, the company earned $1.28 earnings per share. 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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 32.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ZION shares. Robert W. Baird lifted their target price on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Citigroup boosted their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their price objective for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $60.95.

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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