Cerity Partners LLC Grows Position in Zions Bancorporation, N.A. (NASDAQ:ZION)

Cerity Partners LLC grew its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 46.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,301 shares of the bank’s stock after purchasing an additional 14,121 shares during the quarter. Cerity Partners LLC’s holdings in Zions Bancorporation, N.A. were worth $2,209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Zions Bancorporation, N.A. in the fourth quarter worth $73,542,000. Balyasny Asset Management L.P. boosted its stake 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 worth $88,130,000 after acquiring an additional 1,159,888 shares during the period. Freestone Grove Partners LP bought a new position in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $51,116,000. GAMMA Investing LLC boosted its stake in Zions Bancorporation, N.A. by 5,690.4% during the first quarter. GAMMA Investing LLC now owns 550,903 shares of the bank’s stock valued at $27,468,000 after buying an additional 541,389 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Zions Bancorporation, N.A. by 20.8% during the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank’s stock valued at $123,016,000 after purchasing an additional 390,601 shares during the period. 76.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada cut their price target on Zions Bancorporation, N.A. from $63.00 to $53.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price objective on Zions Bancorporation, N.A. from $65.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Truist Financial boosted their target price on Zions Bancorporation, N.A. from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Friday, July 11th. Stephens decreased their price objective on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup upped their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.50.

Zions Bancorporation, N.A. Trading Up 0.7%

Shares of NASDAQ:ZION opened at $56.80 on Friday. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.71 and a beta of 0.90. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.83. The company has a 50 day moving average price of $50.54 and a 200 day moving average price of $50.78.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. The firm had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. During the same quarter last year, the business posted $0.96 EPS. On average, research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.03%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 33.59%.

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.