Voya Investment Management LLC Acquires 50,597 Shares of Zions Bancorporation, N.A. $ZION

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 increased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 57.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,377 shares of the bank's stock after purchasing 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Blackhawk Capital Partners LLC. grew its position in Zions Bancorporation, N.A. by 5.3% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after acquiring an additional 245 shares during the last quarter. Leo Wealth LLC lifted its stake in shares of Zions Bancorporation, N.A. by 1.7% in the 1st quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock valued at $744,000 after purchasing an additional 253 shares during the period. MAI Capital Management increased its position in Zions Bancorporation, N.A. by 1.5% in the 1st quarter. MAI Capital Management now owns 19,591 shares of the bank's stock valued at $977,000 after buying an additional 293 shares in the last quarter. Xponance Inc. increased its position in Zions Bancorporation, N.A. by 2.4% in the 1st quarter. Xponance Inc. now owns 17,053 shares of the bank's stock valued at $850,000 after buying an additional 394 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in Zions Bancorporation, N.A. by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock valued at $1,765,000 after buying an additional 400 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ZION has been the subject of a number of recent research reports. Wall Street Zen raised Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Citigroup boosted their price objective on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their target price on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Cantor Fitzgerald initiated coverage on Zions Bancorporation, N.A. in a report on Wednesday, September 10th. They issued an "overweight" rating and a $64.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and a consensus price target of $60.95.

Zions Bancorporation, N.A. Price Performance

NASDAQ ZION traded down $0.45 during trading hours on Friday, reaching $58.70. 3,450,966 shares of the stock traded hands, compared to its average volume of 1,400,439. The stock has a 50 day simple moving average of $55.53 and a two-hundred day simple moving average of $50.67. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. 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 company has a market cap of $8.67 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.53 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 return on equity of 13.76% and a net margin of 16.98%.The business had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. During the same quarter last year, the business posted $1.28 earnings per share. On average, analysts predict 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. Shareholders of record on Thursday, August 14th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, August 14th. This is a positive change 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 3.1%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) 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.