United Services Automobile Association Purchases Shares of 9,786 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) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,786 shares of the bank's stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Zions Bancorporation, N.A. by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank's stock valued at $351,027,000 after buying an additional 233,252 shares during the last quarter. LSV Asset Management grew its stake in shares of Zions Bancorporation, N.A. by 3.7% during the first quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock valued at $189,022,000 after buying an additional 136,870 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Zions Bancorporation, N.A. by 326.4% during the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock valued at $139,927,000 after buying an additional 2,194,514 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Zions Bancorporation, N.A. by 57.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock valued at $106,368,000 after buying an additional 778,861 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Zions Bancorporation, N.A. by 35.6% during the first quarter. Invesco Ltd. now owns 1,287,915 shares of the bank's stock valued at $64,215,000 after buying an additional 338,340 shares during the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Stock Up 1.9%

NASDAQ ZION opened at $57.98 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $8.56 billion, a PE ratio of 10.60, a PEG ratio of 1.48 and a beta of 0.97. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The business's 50-day moving average is $55.19 and its 200 day moving average is $50.43.

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 for the quarter, beating the consensus estimate of $1.31 by $0.27. The business had revenue of $838.00 million for the quarter, compared to analysts' expectations 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 firm posted $1.28 EPS. Sell-side 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 business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $0.45 dividend. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. 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%. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

Analysts Set New Price Targets

ZION has been the topic of a number of recent research reports. Citigroup raised their price objective 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. Truist Financial raised their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. JPMorgan Chase & Co. raised 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. Finally, Royal Bank Of Canada raised 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 note on Tuesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Zions Bancorporation, N.A. currently has an average rating of "Hold" and an average target price of $60.95.

About Zions Bancorporation, N.A.

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.

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