United Services Automobile Association Invests $484,000 in Zions Bancorporation, N.A. $ZION

Key Points

• United Services Automobile Association acquired 9,786 shares of Zions Bancorporation, valued at approximately $484,000, during the first quarter.
• Zions Bancorporation reported $1.58 earnings per share for the last quarter, surpassing analysts' expectations of $1.31.
• The company recently announced an increased quarterly dividend of $0.45, up from the previous $0.43, representing an annual yield of 3.1%.

United Services Automobile Association purchased a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,786 shares of the bank's stock, valued at approximately $484,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new stake in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $241,000. Baird Financial Group Inc. purchased a new position in Zions Bancorporation, N.A. during the 4th quarter worth $380,000. Deutsche Bank AG increased its holdings in Zions Bancorporation, N.A. by 343.3% during the 4th quarter. Deutsche Bank AG now owns 275,575 shares of the bank's stock worth $14,950,000 after purchasing an additional 213,405 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Zions Bancorporation, N.A. by 96.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 116,661 shares of the bank's stock worth $6,329,000 after purchasing an additional 57,293 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC bought a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at $225,000. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Stock Down 2.4%

Shares of Zions Bancorporation, N.A. stock traded down $1.37 during trading hours on Tuesday, reaching $55.70. 309,384 shares of the company were exchanged, compared to its average volume of 1,574,468. The firm has a market cap of $8.22 billion, a PE ratio of 10.18, a PEG ratio of 1.52 and a beta of 0.97. The stock's fifty day moving average is $55.37 and its 200 day moving average is $50.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current 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 posted its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. As a group, equities research analysts forecast 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 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. 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%. 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

Several analysts have issued reports on the company. Wall Street Zen raised Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Royal Bank Of Canada lifted their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their price objective on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Robert W. Baird lifted their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group upgraded 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 report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.