Grimes & Company Inc. Makes New $6.62 Million Investment in Zions Bancorporation, N.A. $ZION

Grimes & Company Inc. purchased a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the second quarter, HoldingsChannel reports. The institutional investor purchased 127,420 shares of the bank’s stock, valued at approximately $6,618,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZION. AQR Capital Management LLC boosted its stake 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 during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Zions Bancorporation, N.A. by 57.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank’s stock worth $106,368,000 after acquiring an additional 778,861 shares during the last quarter. FJ Capital Management LLC purchased a new stake in Zions Bancorporation, N.A. in the first quarter valued at approximately $21,361,000. MetLife Investment Management LLC increased its position in Zions Bancorporation, N.A. by 443.5% during the first quarter. MetLife Investment Management LLC now owns 452,263 shares of the bank’s stock worth $22,550,000 after purchasing an additional 369,052 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Zions Bancorporation, N.A. during the first quarter worth approximately $16,879,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Zacks Research lowered Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Robert W. Baird raised their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Truist Financial boosted their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Finally, Evercore ISI increased their target price on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and a consensus target price of $61.45.

Zions Bancorporation, N.A. Trading Up 1.0%

NASDAQ:ZION opened at $56.93 on Monday. The company has a market cap of $8.40 billion, a PE ratio of 10.41, a P/E/G ratio of 1.49 and a beta of 0.93. The business’s 50 day moving average is $55.71 and its two-hundred day moving average is $51.26. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22.

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, beating analysts’ consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The business had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. During the same period in the previous year, the business earned $1.28 EPS. On average, analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s payout ratio is 32.91%.

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.