Wolverine Asset Management LLC Buys 13,328 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Wolverine Asset Management LLC increased its holdings in Zions Bancorporation by 83.9%, acquiring an additional 13,328 shares, bringing their total to 29,218 shares valued at approximately $1.46 million.
• Several analysts raised their price targets for Zions Bancorporation, with estimates ranging from $55.00 to $65.00, resulting in an average target price of $60.78 and a consensus rating of "Hold."
• Zions Bancorporation announced a quarterly dividend increase to $0.45, effective August 21, resulting in an annual yield of 3.5%.

Wolverine Asset Management LLC boosted its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 83.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,218 shares of the bank's stock after buying an additional 13,328 shares during the period. Wolverine Asset Management LLC's holdings in Zions Bancorporation, N.A. were worth $1,457,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Blackhawk Capital Partners LLC. increased its position in Zions Bancorporation, N.A. by 5.3% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after buying an additional 245 shares during the period. Leo Wealth LLC increased its position in Zions Bancorporation, N.A. by 1.7% in the 1st quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after buying an additional 253 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Zions Bancorporation, N.A. by 0.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 130,959 shares of the bank's stock worth $7,100,000 after buying an additional 350 shares during the period. Xponance Inc. increased its position in shares of Zions Bancorporation, N.A. by 2.4% during the first quarter. Xponance Inc. now owns 17,053 shares of the bank's stock valued at $850,000 after purchasing an additional 394 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Zions Bancorporation, N.A. by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 63,586 shares of the bank's stock valued at $3,450,000 after purchasing an additional 400 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on ZION shares. Robert W. Baird raised their target price on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada raised their target price 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. Argus raised Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Monday, April 28th. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and raised their target price for the stock from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Price Performance

Shares of ZION stock opened at $52.04 on Friday. The stock's fifty day moving average is $52.32 and its 200-day moving average is $50.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $7.68 billion, a PE ratio of 9.51, a PEG ratio of 1.37 and a beta of 0.93. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (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 business 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 firm posted $1.28 earnings per share. Equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a $0.45 dividend. The ex-dividend date of this dividend is 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 annualized dividend and a yield of 3.5%. Zions Bancorporation, N.A.'s payout ratio is currently 31.44%.

Zions Bancorporation, N.A. 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.

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