Wellington Management Group LLP Has $37.02 Million Stock Position in Zions Bancorporation, N.A. $ZION

Key Points

• Wellington Management Group LLP increased its stake in Zions Bancorporation by 59.2% during Q1, owning 742,516 shares valued at approximately $37 million.
• Zions Bancorporation reported earnings of $1.58 per share, exceeding analyst estimates of $1.31, alongside a quarterly revenue of $838 million.
• The company increased its quarterly dividend from $0.43 to $0.45, reflecting a positive shift in its financial performance and a yield of 3.2%.

Wellington Management Group LLP grew its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 59.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 742,516 shares of the bank's stock after acquiring an additional 276,178 shares during the quarter. Wellington Management Group LLP owned 0.50% of Zions Bancorporation, N.A. worth $37,022,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. boosted its position in Zions Bancorporation, N.A. by 3.5% during the 1st quarter. Raymond James Financial Inc. now owns 147,614 shares of the bank's stock worth $7,360,000 after acquiring an additional 4,955 shares during the last quarter. Cresset Asset Management LLC boosted its position in Zions Bancorporation, N.A. by 36.1% during the 1st quarter. Cresset Asset Management LLC now owns 5,593 shares of the bank's stock worth $279,000 after acquiring an additional 1,484 shares during the last quarter. American Century Companies Inc. boosted its position in Zions Bancorporation, N.A. by 6.8% during the 1st quarter. American Century Companies Inc. now owns 571,233 shares of the bank's stock worth $28,482,000 after acquiring an additional 36,586 shares during the last quarter. Ethic Inc. boosted its position in Zions Bancorporation, N.A. by 1.5% during the 1st quarter. Ethic Inc. now owns 30,329 shares of the bank's stock worth $1,501,000 after acquiring an additional 457 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its position in Zions Bancorporation, N.A. by 21.3% during the 1st quarter. Brandywine Global Investment Management LLC now owns 45,172 shares of the bank's stock worth $2,252,000 after acquiring an additional 7,926 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock traded up $0.20 during mid-day trading on Friday, hitting $58.01. 1,190,729 shares of the company's stock traded hands, compared to its average volume of 1,449,516. The firm has a 50 day simple moving average of $54.27 and a two-hundred day simple moving average of $50.29. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.51 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. During the same quarter last year, the firm posted $1.28 EPS. On average, research 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. Stockholders of record on Thursday, August 14th were issued a dividend of $0.45 per share. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

Analysts Set New Price Targets

A number of research firms have weighed in on ZION. Morgan Stanley upped their price target on 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. Robert W. Baird increased their price objective 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. JPMorgan Chase & Co. increased their price objective on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Finally, Truist Financial increased their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.