Zions Bancorporation, N.A. (NASDAQ:ZION) Stake Increased by Wolverine Asset Management LLC

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 position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 83.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,218 shares of the bank's stock after purchasing 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 hedge funds also recently added to or reduced their stakes in ZION. Curat Global LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter worth approximately $25,000. Picton Mahoney Asset Management acquired a new position in Zions Bancorporation, N.A. during the 1st quarter valued at approximately $25,000. New Age Alpha Advisors LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the first quarter worth $40,000. Covestor Ltd increased its stake in shares of Zions Bancorporation, N.A. by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after acquiring an additional 479 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the first quarter worth $50,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Trading Down 1.3%

NASDAQ ZION traded down $0.68 during mid-day trading on Thursday, hitting $53.18. The company's stock had a trading volume of 352,927 shares, compared to its average volume of 1,610,352. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22. The stock's fifty day simple moving average is $52.65 and its two-hundred day simple moving average is $50.50. 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 firm has a market capitalization of $7.85 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. During the same quarter last year, the firm posted $1.28 earnings per share. Research analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.4%. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is 32.91%.

Analysts Set New Price Targets

Several analysts recently commented on ZION shares. Keefe, Bruyette & Woods dropped their price target on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. DA Davidson raised their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price objective 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. Royal Bank Of Canada raised their price objective 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. Finally, Morgan Stanley raised their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $60.78.

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.