Zions Bancorporation, N.A. $ZION Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its stake in Zions Bancorporation, N.A. (NASDAQ:ZION) by 20.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,548,198 shares of the bank’s stock after purchasing an additional 260,283 shares during the period. Invesco Ltd.’s holdings in Zions Bancorporation, N.A. were worth $80,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Zions Bancorporation, N.A. by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock valued at $1,002,875,000 after purchasing an additional 582,392 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Zions Bancorporation, N.A. by 3.4% during 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 during the period. LSV Asset Management boosted its position in shares of Zions Bancorporation, N.A. by 4.5% during the second quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock worth $205,689,000 after buying an additional 169,085 shares during the period. AQR Capital Management LLC grew its holdings in Zions Bancorporation, N.A. by 326.4% in the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank’s stock worth $139,927,000 after buying an additional 2,194,514 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in Zions Bancorporation, N.A. by 9.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,834,949 shares of the bank’s stock valued at $147,247,000 after acquiring an additional 240,329 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

ZION has been the subject of several recent analyst reports. UBS Group decreased their price target on Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Evercore ISI raised their target price on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Cantor Fitzgerald assumed coverage on shares of Zions Bancorporation, N.A. in a research note on Wednesday, September 10th. They set an “overweight” rating and a $64.00 price objective on the stock. Finally, Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and a consensus target price of $61.05.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION opened at $56.10 on Wednesday. The company has a market capitalization of $8.28 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a fifty day moving average of $52.99 and a 200-day moving average of $53.44. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $59.89.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its earnings results on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.56% and a net margin of 17.22%.The company had revenue of $705.00 million for the quarter. As a group, equities analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 32.26%.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $53.11, for a total value of $130,544.38. Following the completion of the sale, the executive vice president owned 27,133 shares in the company, valued at $1,441,033.63. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.77% of the company’s stock.

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.