Vident Advisory LLC Buys 11,531 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Vident Advisory LLC increased its stake in Zions Bancorporation, N.A. by 109.3%, owning a total of 22,084 shares valued at approximately $1,101,000 as of the end of the first quarter.
• Research firms have raised target prices for Zions Bancorporation, with JPMorgan Chase & Co. increasing its target from $55.00 to $63.00, while Citigroup raised theirs from $48.00 to $52.00.
• Zions Bancorporation announced a quarterly dividend of $0.45, up from $0.43, resulting in an annualized yield of 3.1% with a payout ratio of 32.91%.

Vident Advisory LLC boosted its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 109.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 22,084 shares of the bank's stock after acquiring an additional 11,531 shares during the period. Vident Advisory LLC's holdings in Zions Bancorporation, N.A. were worth $1,101,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Curat Global LLC bought a new stake in Zions Bancorporation, N.A. in the 1st quarter valued at $25,000. Picton Mahoney Asset Management bought a new stake in Zions Bancorporation, N.A. during the 1st quarter worth about $25,000. New Age Alpha Advisors LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $40,000. Princeton Global Asset Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in 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. in the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Citigroup upped their price target on shares of 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. Royal Bank Of Canada increased their price target on shares of 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 increased their price target on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of 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. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Stock Down 0.6%

Shares of NASDAQ ZION traded down $0.34 during mid-day trading on Tuesday, reaching $56.68. 178,884 shares of the company's stock traded hands, compared to its average volume of 1,575,562. 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 business has a 50-day simple moving average of $55.06 and a 200 day simple moving average of $50.33. 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 cap of $8.37 billion, a P/E ratio of 10.34, a PEG ratio of 1.47 and a beta of 0.97.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $810.24 million. During the same period last year, the firm earned $1.28 earnings per share. On average, analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal 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 given a dividend of $0.45 per share. 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 dividend on an annualized basis and a dividend yield of 3.2%. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

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.