Lazard Asset Management LLC Buys 7,087 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Lazard Asset Management LLC increased its holdings in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 44.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,059 shares of the bank’s stock after buying an additional 7,087 shares during the quarter. Lazard Asset Management LLC’s holdings in Zions Bancorporation, National Association were worth $1,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fisher Asset Management LLC acquired a new position in Zions Bancorporation, National Association during the fourth quarter worth about $389,000. Strategic Financial Concepts LLC acquired a new position in Zions Bancorporation, National Association during the 4th quarter worth approximately $2,538,000. Polymer Capital Management US LLC bought a new position in Zions Bancorporation, National Association in the 4th quarter valued at approximately $229,000. SG Americas Securities LLC boosted its position in Zions Bancorporation, National Association by 244.8% in the fourth quarter. SG Americas Securities LLC now owns 28,405 shares of the bank’s stock valued at $1,541,000 after buying an additional 20,167 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth $4,237,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, National Association Stock Performance

ZION stock opened at $49.08 on Tuesday. The stock has a 50-day moving average price of $46.50 and a 200-day moving average price of $52.86. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a market cap of $7.24 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same period last year, the company posted $0.96 EPS. As a group, equities research analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.50%. Zions Bancorporation, National Association’s dividend payout ratio is presently 33.59%.

Zions Bancorporation, National Association announced that its Board of Directors has approved a stock buyback plan on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

ZION has been the subject of a number of research reports. Stephens dropped their price target on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Truist Financial initiated coverage on Zions Bancorporation, National Association in a research note on Tuesday, May 13th. They issued a “hold” rating and a $52.00 price target for the company. Morgan Stanley dropped their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Robert W. Baird dropped their price target on Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, DA Davidson increased their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.47.

Zions Bancorporation, National Association 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.