Mutual Advisors LLC Invests $200,000 in Zions Bancorporation, N.A. $ZION

Mutual Advisors LLC acquired a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 3,614 shares of the bank’s stock, valued at approximately $200,000.

Several other institutional investors also recently modified their holdings of the business. Picton Mahoney Asset Management purchased a new position in Zions Bancorporation, N.A. in the first quarter worth about $25,000. New Age Alpha Advisors LLC purchased a new position in Zions Bancorporation, N.A. during the 1st quarter valued at approximately $40,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter worth approximately $52,000. Bridge Generations Wealth Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter worth approximately $65,000. Finally, Ameritas Advisory Services LLC purchased a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at $65,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Baird R W upgraded Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Morgan Stanley upped their target price on 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. Weiss Ratings restated a “buy (b-)” rating on shares of Zions Bancorporation, N.A. in a research note on Wednesday, October 8th. Truist Financial upped their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Finally, Robert W. Baird upgraded Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and a consensus price target of $61.60.

Zions Bancorporation, N.A. Trading Down 1.9%

NASDAQ:ZION opened at $51.69 on Thursday. The firm has a market cap of $7.63 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.17 and a beta of 0.93. 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 stock has a fifty day moving average price of $55.82 and a 200 day moving average price of $51.64. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22.

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. The firm had revenue of $705.00 million for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.84% and a net margin of 17.22%. Sell-side 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. Shareholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s dividend payout ratio is currently 32.26%.

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.