Pallas Capital Advisors LLC Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

Pallas Capital Advisors LLC bought a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,083 shares of the bank's stock, valued at approximately $702,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Zions Bancorporation, National Association by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after purchasing an additional 285,588 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Zions Bancorporation, National Association by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock worth $369,295,000 after acquiring an additional 175,656 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Zions Bancorporation, National Association by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after acquiring an additional 194,995 shares in the last quarter. First Trust Advisors LP boosted its holdings in Zions Bancorporation, National Association by 20.8% in the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock worth $123,016,000 after acquiring an additional 390,601 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Zions Bancorporation, National Association by 249.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock worth $88,130,000 after acquiring an additional 1,159,888 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company cut their price target on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Stephens cut their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their target price on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird cut their target price on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, Morgan Stanley cut their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association Price Performance

ZION stock traded down $1.29 during mid-day trading on Friday, hitting $47.43. 1,093,084 shares of the stock were exchanged, compared to its average volume of 1,570,220. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day moving average price of $46.42 and a 200 day moving average price of $51.46. Zions Bancorporation, National Association has a 12 month low of $39.32 and a 12 month high of $63.22. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. During the same quarter in the previous year, the company posted $0.96 EPS. On average, sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a share repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.63%. Zions Bancorporation, National Association's dividend payout ratio is presently 33.59%.

Zions Bancorporation, National Association 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.