Zions Bancorporation, N.A. $ZION Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH significantly increased its holdings in Zions Bancorporation by 168.4%, owning over 1.2 million shares valued at approximately $62.8 million.
• Zions Bancorporation recently raised its quarterly dividend from $0.43 to $0.45, resulting in an annualized yield of 3.6%.
• Analysts have a consensus rating of "Hold" on Zions Bancorporation's stock, with a targeted price of approximately $61.33 following multiple recent upgrades in ratings from various financial institutions.

Allianz Asset Management GmbH raised its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 168.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,209,455 shares of the bank's stock after acquiring an additional 758,855 shares during the period. Allianz Asset Management GmbH owned 0.82% of Zions Bancorporation, N.A. worth $62,819,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Lynx Investment Advisory raised its holdings in Zions Bancorporation, N.A. by 3.5% in the 2nd quarter. Lynx Investment Advisory now owns 6,371 shares of the bank's stock valued at $331,000 after acquiring 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% during 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 last quarter. Leo Wealth LLC increased its holdings in shares of Zions Bancorporation, N.A. by 1.7% during 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 last quarter. Wedmont Private Capital increased its holdings in shares of Zions Bancorporation, N.A. by 2.6% during the 2nd quarter. Wedmont Private Capital now owns 10,136 shares of the bank's stock worth $564,000 after buying an additional 256 shares during the last quarter. Finally, MAI Capital Management increased its holdings in shares of Zions Bancorporation, N.A. by 1.5% during the 1st quarter. MAI Capital Management now owns 19,591 shares of the bank's stock worth $977,000 after buying an additional 293 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $49.67 on Friday. 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 50-day moving average of $55.87 and a two-hundred day moving average of $51.50. The stock has a market cap of $7.33 billion, a P/E ratio of 9.08, a PEG ratio of 1.00 and a beta of 0.93. 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 posted its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. The company had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. On average, 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 company also recently disclosed 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 dividend on an annualized basis and a yield of 3.6%. 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 dividend payout ratio is currently 32.91%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group upgraded Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and upped their price objective for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd. Weiss Ratings restated a "buy (b-)" rating on shares of Zions Bancorporation, N.A. in a report on Wednesday, October 8th. Truist Financial upped their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Zacks Research cut shares of Zions Bancorporation, N.A. from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley increased their price target on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $61.33.

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.

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