Russell Investments Group Ltd. Buys 4,876 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Russell Investments Group Ltd. increased its holdings in Zions Bancorporation by 7.7% during the first quarter, now owning 68,516 shares valued at approximately $3.4 million.
• Zions Bancorporation recently announced a quarterly dividend of $0.45, marking a positive change from the previous dividend of $0.43, with an annualized yield of 3.2%.
• The company reported earnings of $1.58 per share for the last quarter, exceeding analyst expectations of $1.31, alongside a revenue of $838 million against anticipated $810 million.

Russell Investments Group Ltd. lifted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,516 shares of the bank's stock after purchasing an additional 4,876 shares during the quarter. Russell Investments Group Ltd.'s holdings in Zions Bancorporation, N.A. were worth $3,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. LSV Asset Management increased its position in Zions Bancorporation, N.A. by 3.7% in the 1st quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock valued at $189,022,000 after acquiring an additional 136,870 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Zions Bancorporation, N.A. by 249.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after purchasing an additional 1,159,888 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Zions Bancorporation, N.A. by 23.9% in the fourth quarter. Northern Trust Corp now owns 1,473,712 shares of the bank's stock valued at $79,949,000 after purchasing an additional 284,624 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Zions Bancorporation, N.A. by 35.6% in the first quarter. Invesco Ltd. now owns 1,287,915 shares of the bank's stock valued at $64,215,000 after purchasing an additional 338,340 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at $51,116,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Up 0.3%

NASDAQ ZION traded up $0.20 during trading on Friday, hitting $58.01. 1,190,729 shares of the company traded hands, compared to its average volume of 1,449,516. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The business has a fifty day simple moving average of $54.27 and a 200 day simple moving average of $50.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $8.56 billion, a P/E ratio of 10.61, a PEG ratio of 1.51 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued 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. The company 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 period last year, the business posted $1.28 earnings per share. As a group, sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.1%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 32.91%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ZION shares. DA Davidson increased 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. Robert W. Baird increased 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. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Truist Financial increased their target price 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. Finally, JPMorgan Chase & Co. increased their target price 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. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $60.78.

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.