Zions Bancorporation, N.A. $ZION Holdings Raised by Vaughan Nelson Investment Management L.P.

Key Points

• Vaughan Nelson Investment Management L.P. increased its stake in Zions Bancorporation, N.A. by 9.3% during the second quarter, now holding approximately 1.4% of the company's shares.
• Zions Bancorporation's earnings per share (EPS) for the recent quarter was reported at $1.58, surpassing expectations and reflecting a return on equity of 13.76%.
• The company has raised its quarterly dividend to $0.45, marking an increase from the previous dividend of $0.43, resulting in an annualized yield of 3.2%.

Vaughan Nelson Investment Management L.P. increased its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,834,949 shares of the bank's stock after buying an additional 240,329 shares during the quarter. Zions Bancorporation, N.A. comprises approximately 1.4% of Vaughan Nelson Investment Management L.P.'s holdings, making the stock its 21st largest position. Vaughan Nelson Investment Management L.P. owned 1.92% of Zions Bancorporation, N.A. worth $147,247,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Lynx Investment Advisory grew its stake in Zions Bancorporation, N.A. by 3.5% during the 2nd quarter. Lynx Investment Advisory now owns 6,371 shares of the bank's stock worth $331,000 after buying an additional 213 shares during the last quarter. Blackhawk Capital Partners LLC. increased its holdings in shares of Zions Bancorporation, N.A. by 5.3% in the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock valued at $244,000 after buying an additional 245 shares in the last quarter. Leo Wealth LLC increased its holdings in shares of Zions Bancorporation, N.A. by 1.7% in the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock valued at $744,000 after buying an additional 253 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Zions Bancorporation, N.A. by 2.6% during the second quarter. Wedmont Private Capital now owns 10,136 shares of the bank's stock valued at $564,000 after purchasing an additional 256 shares during the last quarter. Finally, MAI Capital Management lifted its holdings in shares of Zions Bancorporation, N.A. by 1.5% during the first quarter. MAI Capital Management now owns 19,591 shares of the bank's stock valued at $977,000 after purchasing an additional 293 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Stock Up 1.0%

Shares of Zions Bancorporation, N.A. stock opened at $56.93 on Friday. The stock has a 50-day moving average price of $55.71 and a 200 day moving average price of $51.24. The company has a market cap of $8.40 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.47 and a beta of 0.93. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) 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 the consensus estimate of $810.24 million. During the same period in the prior year, the business earned $1.28 EPS. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is currently 32.91%.

Analysts Set New Price Targets

ZION has been the subject of several analyst reports. Evercore ISI upped their target price on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company an "outperform" rating in a report on Tuesday. DA Davidson upped their target price on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and upped their target price for the company from $45.00 to $60.00 in a report on Tuesday, July 22nd. Robert W. Baird upped their target price on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Zacks Research downgraded Zions Bancorporation, N.A. from a "strong-buy" rating to a "hold" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $61.45.

Zions Bancorporation, N.A. Company 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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