PharVision Advisers LLC Takes $342,000 Position in Zions Bancorporation, N.A. $ZION

Key Points

• PharVision Advisers LLC purchased 6,864 shares of Zions Bancorporation, valued at approximately $342,000, signifying a new institutional investment in the bank.
• Zions Bancorporation recently reported earnings of $1.58 per share, exceeding analyst expectations of $1.31, along with a revenue of $838 million for the quarter.
• The firm has increased its quarterly dividend from $0.43 to $0.45, reflecting a commitment to returning value to shareholders and representing a yield of 3.2%.

PharVision Advisers LLC bought a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,864 shares of the bank's stock, valued at approximately $342,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at $25,000. Curat Global LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at $25,000. New Age Alpha Advisors LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at $40,000. Princeton Global Asset Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth $52,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on ZION. Citigroup lifted their price objective on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price objective for the stock from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Truist Financial lifted their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Robert W. Baird lifted their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $60.95.

Zions Bancorporation, N.A. Trading Up 0.0%

ZION stock traded up $0.01 during midday trading on Thursday, hitting $57.99. 725,226 shares of the company's stock were exchanged, compared to its average volume of 1,578,469. The stock's fifty day moving average price is $55.19 and its 200-day moving average price is $50.43. 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 cap of $8.56 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.27. The firm 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 period in the previous year, the company posted $1.28 earnings per share. Research analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued 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 was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is presently 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.