Strs Ohio Invests $1.37 Million in Zions Bancorporation, N.A. $ZION

Key Points

• Strs Ohio acquired 27,499 shares of Zions Bancorporation, N.A., valued at approximately $1,371,000, during the first quarter of the year.
• Zions Bancorporation reported earnings of $1.58 per share, exceeding analysts' estimates, and had a revenue of $838 million for the last quarter.
• The company declared a quarterly dividend increase to $0.45 per share, with a dividend yield of 3.0%, reflecting its strong financial position.

Strs Ohio bought a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,499 shares of the bank's stock, valued at approximately $1,371,000.

Several other large investors also recently added to or reduced their stakes in ZION. Curat Global LLC bought a new position in Zions Bancorporation, N.A. in the 1st quarter worth about $25,000. Picton Mahoney Asset Management bought a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $25,000. New Age Alpha Advisors LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $40,000. Princeton Global Asset Management LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $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 traded down $0.45 during trading on Friday, reaching $58.70. The stock had a trading volume of 3,450,966 shares, compared to its average volume of 1,400,439. The stock's 50 day moving average is $55.53 and its two-hundred day moving average is $50.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.53 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 quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The business had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. As a group, analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $0.45 dividend. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is currently 32.91%.

Analyst Ratings Changes

ZION has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on 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. Robert W. Baird boosted their target price on 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. JPMorgan Chase & Co. boosted their target price on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Citigroup boosted their target price on 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. Finally, Cantor Fitzgerald started coverage on Zions Bancorporation, N.A. in a research report on Wednesday, September 10th. They issued an "overweight" rating and a $64.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.