LPL Financial LLC Boosts Stock Holdings in Zions Bancorporation, N.A. (NASDAQ:ZION)

LPL Financial LLC boosted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 6.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,365 shares of the bank’s stock after acquiring an additional 3,756 shares during the period. LPL Financial LLC’s holdings in Zions Bancorporation, N.A. were worth $3,159,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in shares of Zions Bancorporation, N.A. by 18.9% in the 1st quarter. Cetera Investment Advisers now owns 41,060 shares of the bank’s stock worth $2,047,000 after buying an additional 6,519 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Zions Bancorporation, N.A. by 12.1% in the 1st quarter. AE Wealth Management LLC now owns 72,031 shares of the bank’s stock worth $3,592,000 after buying an additional 7,748 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in Zions Bancorporation, N.A. by 85.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 24,407 shares of the bank’s stock worth $1,217,000 after purchasing an additional 11,257 shares during the last quarter. Allianz Asset Management GmbH grew its position in Zions Bancorporation, N.A. by 9.5% during the 1st quarter. Allianz Asset Management GmbH now owns 450,600 shares of the bank’s stock worth $22,467,000 after purchasing an additional 39,108 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in Zions Bancorporation, N.A. by 2.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 19,319 shares of the bank’s stock valued at $963,000 after acquiring an additional 540 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION opened at $52.67 on Friday. The business’s 50 day moving average is $52.83 and its 200-day moving average is $50.39. 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 firm has a market capitalization of $7.78 billion, a PE ratio of 9.63, a PEG ratio of 1.37 and a beta of 0.93. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. The company had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 14th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 32.91%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Keefe, Bruyette & Woods decreased their target price on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial increased their price target on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. Morgan Stanley raised their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Finally, 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 note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.78.

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.