Headlands Technologies LLC Reduces Stock Position in Zions Bancorporation, N.A. (NASDAQ:ZION)

Key Points

• Headlands Technologies LLC significantly reduced its stake in Zions Bancorporation by 79.5%, owning only 6,213 shares after selling 24,074 during the first quarter.
• Zions Bancorporation announced a quarterly dividend of $0.45 per share, an increase from the previous dividend of $0.43, reflecting an annualized yield of 3.5%.
• Analysts have mixed outlooks on the stock, with a consensus rating of "Hold" and a price target averaging $60.78, showcasing varied expectations on its performance.

Headlands Technologies LLC trimmed its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 79.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,213 shares of the bank's stock after selling 24,074 shares during the period. Headlands Technologies LLC's holdings in Zions Bancorporation, N.A. were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ZION. Wells Fargo & Company MN raised its holdings in Zions Bancorporation, N.A. by 73.2% during the fourth quarter. Wells Fargo & Company MN now owns 116,191 shares of the bank's stock worth $6,303,000 after acquiring an additional 49,121 shares in the last quarter. Invesco Ltd. raised its holdings in Zions Bancorporation, N.A. by 9.8% during the fourth quarter. Invesco Ltd. now owns 949,575 shares of the bank's stock worth $51,514,000 after acquiring an additional 85,009 shares in the last quarter. Advisory Services Network LLC raised its holdings in Zions Bancorporation, N.A. by 15.0% during the fourth quarter. Advisory Services Network LLC now owns 17,146 shares of the bank's stock worth $930,000 after acquiring an additional 2,237 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Zions Bancorporation, N.A. during the fourth quarter worth about $7,739,000. Finally, Treasurer of the State of North Carolina raised its holdings in Zions Bancorporation, N.A. by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 63,586 shares of the bank's stock worth $3,450,000 after acquiring an additional 400 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Trading Down 1.3%

Shares of ZION stock 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. The company's fifty day simple moving average is $52.65 and its 200-day simple moving average is $50.50. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. 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 company has a market cap of $7.85 billion, a PE ratio of 9.72, a P/E/G ratio of 1.39 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, topping 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 firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $810.24 million. During the same period last year, the company posted $1.28 EPS. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, August 14th. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 32.91%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZION. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their price target for the stock from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Keefe, Bruyette & Woods lowered their price target on 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. Stephens lowered their price target on 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 boosted their price target 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. Finally, Robert W. Baird boosted their price target 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. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently 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.