Strs Ohio Purchases Shares of 27,499 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 purchased a new position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,499 shares of the bank's stock, valued at approximately $1,371,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Zions Bancorporation, N.A. by 17.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,567 shares of the bank's stock worth $1,875,000 after acquiring an additional 5,090 shares during the period. ProShare Advisors LLC boosted its holdings in Zions Bancorporation, N.A. by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 6,912 shares of the bank's stock valued at $375,000 after purchasing an additional 473 shares in the last quarter. State of Wyoming acquired a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $180,000. Tidal Investments LLC raised its stake in shares of Zions Bancorporation, N.A. by 7.8% during the fourth quarter. Tidal Investments LLC now owns 5,718 shares of the bank's stock worth $310,000 after purchasing an additional 413 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Zions Bancorporation, N.A. by 16.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,201 shares of the bank's stock worth $27,244,000 after acquiring an additional 71,795 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Trading Down 0.8%

Shares of NASDAQ ZION traded down $0.45 during mid-day trading on Friday, hitting $58.70. 3,450,966 shares of the company traded hands, compared to its average volume of 1,307,616. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.54 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $55.53 and a two-hundred day moving average of $50.67.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $838.00 million during the quarter, compared to the consensus estimate 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 prior year, the business earned $1.28 EPS. On average, sell-side analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on ZION. Jefferies Financial Group upgraded Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd. Citigroup boosted their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. upped their price objective on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada increased their price objective 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. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Zions Bancorporation, N.A. has a consensus rating of "Hold" and a consensus price target of $60.95.

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.