Persistent Asset Partners Ltd Takes Position in Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Persistent Asset Partners Ltd acquired a new stake in Zions Bancorporation, N.A., purchasing 17,942 shares valued at approximately $895,000.
• Analysts have raised their price targets for Zions Bancorporation, with JPMorgan increasing its target from $55.00 to $63.00 and several others also forecasting growth.
• Zions Bancorporation recently declared an increase in its quarterly dividend from $0.43 to $0.45, representing a yield of 3.5% for shareholders.

Persistent Asset Partners Ltd purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,942 shares of the bank's stock, valued at approximately $895,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZION. Curat Global LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the first quarter valued at approximately $25,000. Picton Mahoney Asset Management bought a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $25,000. New Age Alpha Advisors LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $40,000. Covestor Ltd lifted its holdings in shares of Zions Bancorporation, N.A. by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after acquiring an additional 479 shares during the period. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $50,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZION has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Truist Financial lifted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Morgan Stanley lifted their price target on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Finally, Stephens decreased their price target on shares of Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of "Hold" and a consensus target price of $60.78.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $51.78 on Tuesday. The stock has a market capitalization of $7.64 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 1.37 and a beta of 0.93. The company's 50-day moving average is $52.42 and its 200-day moving average is $50.46. 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 1 year low of $39.32 and a 1 year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.27. The business had revenue of $838.00 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $1.28 earnings per share. Equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be issued a $0.45 dividend. The ex-dividend date is Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.5%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 31.44%.

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.

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