Acadian Asset Management LLC Purchases 4,694 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Acadian Asset Management LLC increased its stake in Zions Bancorporation, N.A. by 20.2%, holding a total of 27,936 shares valued at $1,392,000 as of the latest filing.
• Zions Bancorporation recently reported earnings of $1.58 per share, surpassing analysts' expectations of $1.31, and had a revenue of $838 million for the quarter.
• The bank also announced a dividend increase to $0.45 per share, resulting in an annualized yield of 3.0%, up from the previous dividend of $0.43.

Acadian Asset Management LLC lifted its stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 20.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,936 shares of the bank's stock after purchasing an additional 4,694 shares during the period. Acadian Asset Management LLC's holdings in Zions Bancorporation, N.A. were worth $1,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Curat Global LLC bought a new position in Zions Bancorporation, N.A. during the first quarter worth about $25,000. Picton Mahoney Asset Management bought a new position in Zions Bancorporation, N.A. during the first quarter worth about $25,000. New Age Alpha Advisors LLC bought a new position in Zions Bancorporation, N.A. during the first quarter worth about $40,000. Princeton Global Asset Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the first quarter valued at about $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Zions Bancorporation, N.A. in the first quarter valued at about $52,000. 76.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZION has been the topic of a number of research reports. Robert W. Baird boosted their price target 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. Morgan Stanley boosted their price target on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. DA Davidson boosted their price target 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. JPMorgan Chase & Co. boosted their price target 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. Finally, Royal Bank Of Canada boosted their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $60.95.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION traded down $0.45 during trading on Friday, reaching $58.70. 3,450,966 shares of the company's stock were exchanged, compared to its average volume of 1,400,439. The business has a 50 day moving average price of $55.53 and a 200-day moving average price of $50.67. The stock has a market capitalization of $8.67 billion, a P/E ratio of 10.73, a PEG ratio of 1.53 and a beta of 0.97. 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. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

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 for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.During the same quarter in the previous year, the business earned $1.28 earnings per share. Sell-side analysts forecast 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. Stockholders of record on Thursday, August 14th were issued a dividend of $0.45 per share. This is a boost 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 was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is presently 32.91%.

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.