Russell Investments Group Ltd. Purchases 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. increased its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 7.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,516 shares of the bank's stock after purchasing an additional 4,876 shares during the period. Russell Investments Group Ltd.'s holdings in Zions Bancorporation, N.A. were worth $3,416,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Blackhawk Capital Partners LLC. boosted its stake in shares of Zions Bancorporation, N.A. by 5.3% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock valued at $244,000 after purchasing an additional 245 shares in the last quarter. Leo Wealth LLC boosted its stake in shares of Zions Bancorporation, N.A. by 1.7% in the 1st quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock valued at $744,000 after purchasing an additional 253 shares in the last quarter. Xponance Inc. boosted its stake in shares of Zions Bancorporation, N.A. by 2.4% in the 1st quarter. Xponance Inc. now owns 17,053 shares of the bank's stock valued at $850,000 after purchasing an additional 394 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Zions Bancorporation, N.A. by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 35,400 shares of the bank's stock valued at $1,765,000 after purchasing an additional 400 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Zions Bancorporation, N.A. by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 41,400 shares of the bank's stock valued at $2,064,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Trading Up 2.1%

Shares of NASDAQ:ZION traded up $1.18 on Wednesday, hitting $58.00. The company had a trading volume of 2,001,632 shares, compared to its average volume of 1,600,184. The firm's 50-day simple moving average is $53.69 and its two-hundred day simple moving average is $50.25. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 1.46 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. During the same period last year, the company posted $1.28 EPS. Equities analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ZION shares. Morgan Stanley increased their price target on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" 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 increased their price target for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price target on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.