Zions Bancorporation, N.A. $ZION Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 64.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 13,477 shares of the bank’s stock after selling 24,484 shares during the quarter. AlphaQuest LLC’s holdings in Zions Bancorporation, N.A. were worth $700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in Zions Bancorporation, N.A. by 15.0% during the 2nd quarter. Nordea Investment Management AB now owns 256,710 shares of the bank’s stock worth $13,349,000 after acquiring an additional 33,449 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter worth $224,000. Principal Financial Group Inc. raised its stake in Zions Bancorporation, N.A. by 0.5% during the 1st 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter worth $1,261,000. Finally, Teacher Retirement System of Texas raised its stake in Zions Bancorporation, N.A. by 6.2% during the 1st quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank’s stock worth $2,401,000 after acquiring an additional 2,821 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on ZION shares. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Friday, October 17th. Citigroup lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of Zions Bancorporation, N.A. from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada lifted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Finally, Weiss Ratings lowered shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus target price of $61.62.

Zions Bancorporation, N.A. Stock Down 0.5%

ZION stock opened at $52.85 on Tuesday. The company has a market cap of $7.80 billion, a P/E ratio of 9.47, a P/E/G ratio of 0.88 and a beta of 0.93. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The company’s 50-day moving average price is $55.78 and its 200 day moving average price is $51.94. 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, June 12th. The bank reported $1.32 EPS for the quarter. The firm had revenue of $705.00 million for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. On average, research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $0.45 per share. 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 yield of 3.4%. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

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.