Voya Investment Management LLC Buys 50,597 Shares of Zions Bancorporation, N.A. $ZION

Voya Investment Management LLC lifted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 57.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,377 shares of the bank’s stock after purchasing an additional 50,597 shares during the period. Voya Investment Management LLC owned approximately 0.09% of Zions Bancorporation, N.A. worth $6,899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new position in Zions Bancorporation, N.A. during the 1st quarter worth $224,000. Principal Financial Group Inc. raised its position in shares of Zions Bancorporation, N.A. by 0.5% during the first quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank’s stock worth $16,956,000 after acquiring an additional 1,561 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Zions Bancorporation, N.A. during the first quarter valued at $3,383,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Zions Bancorporation, N.A. in the first quarter worth about $1,261,000. Finally, Teacher Retirement System of Texas increased its position in Zions Bancorporation, N.A. by 6.2% in the first quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank’s stock worth $2,401,000 after purchasing an additional 2,821 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Up 1.8%

NASDAQ:ZION opened at $57.50 on Thursday. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The stock has a 50-day moving average price of $55.42 and a two-hundred day moving average price of $50.57. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.47 and a beta of 0.97. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $838.00 million for the quarter, compared to analysts’ expectations of $810.24 million. During the same quarter in the previous year, the business posted $1.28 EPS. As a group, equities analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, August 14th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 32.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of 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. DA Davidson lifted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Cantor Fitzgerald started coverage on Zions Bancorporation, N.A. in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $64.00 price target on the stock. Truist Financial lifted their price objective 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, Wells Fargo & Company increased their target price on 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 analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.95.

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.