Northern Trust Corp Has $72 Million Position in Zions Bancorporation, N.A. $ZION

Key Points

• Northern Trust Corp reduced its stake in Zions Bancorporation by 2.0% during the 1st quarter, now holding approximately 0.98% of the company valued at $72 million.
• Zions Bancorporation recently reported quarterly earnings of $1.58 per share, exceeding analysts' expectations, with revenue reaching $838 million.
• The bank has increased its quarterly dividend to $0.45 per share, reflecting a rise from its previous dividend, offering a dividend yield of 3.2%.

Northern Trust Corp decreased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,444,118 shares of the bank's stock after selling 29,594 shares during the period. Northern Trust Corp owned 0.98% of Zions Bancorporation, N.A. worth $72,004,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Curat Global LLC bought a new stake in Zions Bancorporation, N.A. during the first quarter worth approximately $25,000. Picton Mahoney Asset Management bought a new stake in Zions Bancorporation, N.A. during the first quarter worth approximately $25,000. New Age Alpha Advisors LLC bought a new stake in Zions Bancorporation, N.A. during the first quarter worth approximately $40,000. Princeton Global Asset Management LLC bought a new stake in Zions Bancorporation, N.A. during the first quarter worth approximately $50,000. Finally, CX Institutional bought a new stake in Zions Bancorporation, N.A. during the first quarter worth approximately $53,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Stock Up 0.3%

Shares of ZION stock traded up $0.20 during trading on Friday, hitting $58.01. 1,190,729 shares of the company were exchanged, compared to its average volume of 1,436,499. 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 firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.51 and a beta of 0.97. The business's 50-day simple moving average is $54.27 and its 200 day simple moving average is $50.25. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly 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. The business had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. During the same period last year, the company posted $1.28 earnings per share. As a group, analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors 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 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is 32.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ZION shares. DA Davidson raised their target price on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Robert W. Baird raised their target price on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their price target for the company from $45.00 to $60.00 in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of 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, Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Four 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.com, Zions Bancorporation, N.A. has an average rating of "Hold" and a consensus price target 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.