Zions Bancorporation, N.A. $ZION Shares Purchased by Meritage Portfolio Management

Key Points

• Meritage Portfolio Management increased its holdings in Zions Bancorporation, N.A. by 79.5% during Q2, now owning 14,803 shares valued at $769,000.
• Zions Bancorporation announced a quarterly dividend increase from $0.43 to $0.45 per share, representing a 3.4% dividend yield.
• Several research firms raised their price targets for Zions, with DA Davidson setting a new target of $66.00 and maintaining a "buy" rating.

Meritage Portfolio Management grew its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 79.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,803 shares of the bank's stock after purchasing an additional 6,555 shares during the quarter. Meritage Portfolio Management's holdings in Zions Bancorporation, N.A. were worth $769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ZION. Vanguard Personalized Indexing Management LLC grew its holdings in Zions Bancorporation, N.A. by 0.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,637 shares of the bank's stock valued at $2,474,000 after buying an additional 448 shares in the last quarter. Inspire Investing LLC grew its holdings in Zions Bancorporation, N.A. by 8.2% in the 2nd quarter. Inspire Investing LLC now owns 7,473 shares of the bank's stock valued at $388,000 after buying an additional 567 shares in the last quarter. Blue Trust Inc. grew its holdings in Zions Bancorporation, N.A. by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 6,323 shares of the bank's stock valued at $328,000 after buying an additional 1,374 shares in the last quarter. Thompson Investment Management Inc. grew its holdings in Zions Bancorporation, N.A. by 3.6% in the 2nd quarter. Thompson Investment Management Inc. now owns 16,465 shares of the bank's stock valued at $855,000 after buying an additional 573 shares in the last quarter. Finally, Callan Family Office LLC acquired a new stake in Zions Bancorporation, N.A. during the second quarter worth about $235,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Down 6.2%

Zions Bancorporation, N.A. stock opened at $52.35 on Monday. 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 capitalization of $7.73 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The firm has a 50 day moving average price of $55.87 and a 200 day moving average price of $51.44.

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 (EPS) for the quarter. The firm had revenue of $705.00 million for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. Research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given 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 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is currently 32.91%.

Analysts Set New Price Targets

Several research firms recently issued reports on ZION. DA Davidson raised their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price target for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. Morgan Stanley lifted their price target on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Royal Bank Of Canada upped their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Finally, Truist Financial upped their price target on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Zions Bancorporation, N.A. currently has an average rating of "Hold" and an average price target of $61.45.

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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