Zions Bancorporation, N.A. $ZION Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Zions Bancorporation by 57.6%, acquiring an additional 50,597 shares in the first quarter, bringing its total to 138,377 shares valued at approximately $6.9 million.
• Zions Bancorporation's latest earnings report revealed $1.58 earnings per share for the quarter, surpassing analysts' expectations by $0.27 and indicating strong revenue performance.
• The company has recently raised its quarterly dividend from $0.43 to $0.45, resulting in an annualized dividend yield of 3.1%.

Voya Investment Management LLC boosted its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 57.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,377 shares of the bank's stock after acquiring an additional 50,597 shares during the period. Voya Investment Management LLC owned about 0.09% of Zions Bancorporation, N.A. worth $6,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Curat Global LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at about $25,000. Picton Mahoney Asset Management purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at approximately $25,000. New Age Alpha Advisors LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at approximately $40,000. Princeton Global Asset Management LLC purchased a new position in Zions Bancorporation, N.A. during the 1st quarter worth approximately $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter valued at approximately $52,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Price Performance

ZION traded up $1.65 on Thursday, hitting $59.15. 1,256,337 shares of the company's stock were exchanged, compared to its average volume of 1,298,139. The firm has a 50-day moving average price of $55.48 and a 200-day moving average price of $50.62. 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 stock has a market cap of $8.73 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 1.50 and a beta of 0.97. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week 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 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 analysts' expectations of $810.24 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. As a group, equities analysts anticipate 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. 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 yield of 3.0%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 32.91%.

Analysts Set New Price Targets

Several brokerages have commented on ZION. Robert W. Baird lifted their price objective on shares of 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. Royal Bank Of Canada lifted their price objective on shares of 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. Cantor Fitzgerald assumed coverage on shares of Zions Bancorporation, N.A. in a report on Wednesday, September 10th. They set an "overweight" rating and a $64.00 target price for the company. Truist Financial lifted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average 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.