Zions Bancorporation, N.A. $ZION Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 7.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,516 shares of the bank’s stock after purchasing an additional 4,876 shares during the period. Russell Investments Group Ltd.’s holdings in Zions Bancorporation, N.A. were worth $3,416,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in Zions Bancorporation, N.A. by 1.7% in the first quarter. HighTower Advisors LLC now owns 68,420 shares of the bank’s stock valued at $3,411,000 after acquiring an additional 1,112 shares during the period. Nuveen LLC acquired a new position in Zions Bancorporation, N.A. during the 1st quarter valued at approximately $16,879,000. Entropy Technologies LP bought a new position in Zions Bancorporation, N.A. during the 1st quarter worth $837,000. Invesco Ltd. increased its position in Zions Bancorporation, N.A. by 35.6% in the first quarter. Invesco Ltd. now owns 1,287,915 shares of the bank’s stock worth $64,215,000 after buying an additional 338,340 shares during the period. Finally, Sierra Summit Advisors LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 49.2% during the first quarter. Sierra Summit Advisors LLC now owns 32,380 shares of the bank’s stock valued at $1,614,000 after acquiring an additional 10,679 shares during the period. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $55.86 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50 day moving average is $53.34 and its 200-day moving average is $50.27. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The stock has a market capitalization of $8.25 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.46 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. The firm 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 firm posted $1.28 earnings per share. Equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a $0.45 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s dividend payout ratio is currently 32.91%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZION. DA Davidson lifted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Citigroup lifted their target price on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company raised their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Robert W. Baird upped their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus 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.