Zions Bancorporation, N.A. $ZION Shares Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 11.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,181 shares of the bank’s stock after purchasing an additional 2,150 shares during the period. Convergence Investment Partners LLC’s holdings in Zions Bancorporation, N.A. were worth $1,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Lynx Investment Advisory lifted its holdings in Zions Bancorporation, N.A. by 3.5% during the second quarter. Lynx Investment Advisory now owns 6,371 shares of the bank’s stock valued at $331,000 after purchasing an additional 213 shares in the last quarter. Blackhawk Capital Partners LLC. lifted its holdings in Zions Bancorporation, N.A. by 5.3% during the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank’s stock valued at $244,000 after purchasing an additional 245 shares in the last quarter. Leo Wealth LLC lifted its holdings in Zions Bancorporation, N.A. by 1.7% during the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank’s stock valued at $744,000 after purchasing an additional 253 shares in the last quarter. Wedmont Private Capital lifted its holdings in Zions Bancorporation, N.A. by 2.6% during the second quarter. Wedmont Private Capital now owns 10,136 shares of the bank’s stock valued at $564,000 after purchasing an additional 256 shares in the last quarter. Finally, MAI Capital Management lifted its holdings in Zions Bancorporation, N.A. by 1.5% during the first quarter. MAI Capital Management now owns 19,591 shares of the bank’s stock valued at $977,000 after purchasing an additional 293 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Price Performance

Shares of ZION stock opened at $52.85 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50-day moving average is $55.78 and its two-hundred day moving average is $51.94. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The company has a market capitalization of $7.80 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.88 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. The company had revenue of $705.00 million for the quarter. Analysts predict 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 announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.4%. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

Analysts Set New Price Targets

ZION has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Robert W. Baird raised shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Friday, October 17th. Bank of America raised shares of Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $59.00 to $62.00 in a research note on Thursday, October 23rd. DA Davidson raised their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Finally, Cantor Fitzgerald initiated coverage on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.62.

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.