Zions Bancorporation, N.A. $ZION Stake Raised by Raymond James Financial Inc.

Raymond James Financial Inc. grew its stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,614 shares of the bank's stock after buying an additional 4,955 shares during the period. Raymond James Financial Inc. owned 0.10% of Zions Bancorporation, N.A. worth $7,360,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Zions Bancorporation, N.A. by 5,690.4% during the 1st quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock worth $27,468,000 after purchasing an additional 541,389 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Zions Bancorporation, N.A. by 413.0% in the 4th quarter. BNP Paribas Financial Markets now owns 483,363 shares of the bank's stock worth $26,222,000 after acquiring an additional 389,148 shares during the period. Nuveen LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $16,879,000. Invesco Ltd. increased its holdings in shares of Zions Bancorporation, N.A. by 35.6% in the 1st quarter. Invesco Ltd. now owns 1,287,915 shares of the bank's stock valued at $64,215,000 after purchasing an additional 338,340 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Zions Bancorporation, N.A. by 23.9% in the 4th quarter. Northern Trust Corp now owns 1,473,712 shares of the bank's stock valued at $79,949,000 after purchasing an additional 284,624 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Morgan Stanley raised their target price 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. 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 research report on Wednesday, July 2nd. Robert W. Baird raised 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. 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 research report on Tuesday, July 22nd. Finally, Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price target for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION traded down $1.59 during midday trading on Friday, hitting $56.52. 1,643,360 shares of the stock traded hands, compared to its average volume of 1,237,740. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The firm has a market capitalization of $8.34 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. 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 business's 50 day moving average price is $54.96 and its two-hundred day moving average price is $50.31.

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, 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 company had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. During the same quarter in the previous year, the company posted $1.28 earnings per share. Equities research analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $0.45 dividend. The ex-dividend date of this dividend was 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 3.2%. Zions Bancorporation, N.A.'s dividend 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.