Rafferty Asset Management LLC Lowers Holdings in Zions Bancorporation, N.A. $ZION

Rafferty Asset Management LLC decreased its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 17.7% during the first quarter, HoldingsChannel.com reports. The firm owned 226,555 shares of the bank’s stock after selling 48,829 shares during the quarter. Rafferty Asset Management LLC’s holdings in Zions Bancorporation, N.A. were worth $11,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ZION. Dimensional Fund Advisors LP lifted its stake in shares of Zions Bancorporation, N.A. by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank’s stock worth $351,027,000 after buying an additional 233,252 shares in the last quarter. LSV Asset Management lifted its position in Zions Bancorporation, N.A. by 3.7% in the 1st quarter. LSV Asset Management now owns 3,791,047 shares of the bank’s stock valued at $189,022,000 after acquiring an additional 136,870 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Zions Bancorporation, N.A. by 57.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank’s stock valued at $106,368,000 after purchasing an additional 778,861 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Zions Bancorporation, N.A. by 249.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank’s stock worth $88,130,000 after purchasing an additional 1,159,888 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Zions Bancorporation, N.A. by 23.9% in the fourth quarter. Northern Trust Corp now owns 1,473,712 shares of the bank’s stock worth $79,949,000 after purchasing an additional 284,624 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZION has been the topic of a number of research analyst reports. Citigroup upped their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Robert W. Baird upped their target price on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. JPMorgan Chase & Co. boosted their price objective on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Truist Financial raised their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION opened at $58.00 on Thursday. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.48 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 firm has a 50 day moving average of $53.89 and a 200 day moving average of $50.31.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The business had revenue of $838.00 million for the quarter, compared to analysts’ expectations of $810.24 million. During the same quarter last year, the company posted $1.28 EPS. On average, research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $0.45 dividend. The ex-dividend date was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 32.91%.

Zions Bancorporation, N.A. Company 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.