Zions Bancorporation, N.A. $ZION Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 11.3% in the second quarter, Holdings Channel.com reports. The fund owned 21,181 shares of the bank’s stock after purchasing an additional 2,150 shares during the period. Convergence Investment Partners LLC’s holdings in Zions Bancorporation, N.A. were worth $1,100,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ZION. GAMMA Investing LLC increased its position in shares of Zions Bancorporation, N.A. by 16.1% during the first quarter. GAMMA Investing LLC now owns 11,049 shares of the bank’s stock valued at $551,000 after acquiring an additional 1,535 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at about $224,000. Bessemer Group Inc. increased its position in shares of Zions Bancorporation, N.A. by 76.3% during the first quarter. Bessemer Group Inc. now owns 11,637 shares of the bank’s stock valued at $581,000 after acquiring an additional 5,035 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at about $1,261,000. Finally, New York State Teachers Retirement System increased its position in shares of Zions Bancorporation, N.A. by 2.5% during the first quarter. New York State Teachers Retirement System now owns 148,072 shares of the bank’s stock valued at $7,383,000 after acquiring an additional 3,611 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZION. Royal Bank Of Canada lifted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Piper Sandler dropped their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Bank of America upgraded shares of Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $59.00 to $62.00 in a report on Thursday, October 23rd. TD Cowen began coverage on shares of Zions Bancorporation, N.A. in a report on Thursday, September 25th. They issued a “hold” rating and a $64.00 price objective for the company. 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. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus price target of $61.62.

Zions Bancorporation, N.A. Stock Down 0.5%

Shares of Zions Bancorporation, N.A. stock opened at $52.85 on Tuesday. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22. The company has a 50 day moving average of $55.78 and a 200 day moving average of $51.94. 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 company has a market capitalization of $7.80 billion, a P/E ratio of 9.47, a P/E/G ratio of 0.88 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. The company had revenue of $705.00 million during the quarter. As a group, research 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 disclosed 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. The ex-dividend date was Thursday, August 14th. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

Zions Bancorporation, N.A. 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.