Edgestream Partners L.P. Acquires 71,146 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION)

Edgestream Partners L.P. grew its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 279.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,616 shares of the bank's stock after acquiring an additional 71,146 shares during the period. Edgestream Partners L.P. owned about 0.07% of Zions Bancorporation, N.A. worth $4,817,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ZION. Curat Global LLC acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC grew its holdings in Zions Bancorporation, N.A. by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after acquiring an additional 183 shares in the last quarter. Covestor Ltd grew its holdings in Zions Bancorporation, N.A. by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after acquiring an additional 479 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in Zions Bancorporation, N.A. during the 1st quarter worth $50,000. Finally, CX Institutional acquired a new position in Zions Bancorporation, N.A. during the 1st quarter worth $53,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stephens reduced their price target on shares of Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada reduced their price target on shares of Zions Bancorporation, N.A. from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Argus upgraded shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research report on Monday, April 28th. Finally, Truist Financial lifted their price objective on shares of Zions Bancorporation, N.A. from $52.00 to $57.00 and gave the company a "hold" rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Zions Bancorporation, N.A. currently has a consensus rating of "Hold" and an average price target of $57.50.

Zions Bancorporation, N.A. Stock Up 0.7%

ZION traded up $0.39 on Friday, reaching $56.80. 1,377,533 shares of the company traded hands, compared to its average volume of 1,546,123. The stock's 50 day moving average price is $50.54 and its 200-day moving average price is $50.80. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.83 and a quick ratio of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. The business had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. During the same period in the previous year, the company earned $0.96 earnings per share. On average, sell-side analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.03%. The ex-dividend date was Thursday, May 15th. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 33.59%.

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.