New Age Alpha Advisors LLC Takes Position in Zions Bancorporation, N.A. (NASDAQ:ZION)

New Age Alpha Advisors LLC bought a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 794 shares of the bank’s stock, valued at approximately $40,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in Zions Bancorporation, N.A. during the 1st quarter valued at about $25,000. Curat Global LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth about $25,000. Covestor Ltd grew its holdings in shares of Zions Bancorporation, N.A. by 128.1% during the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock worth $46,000 after buying an additional 479 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth about $50,000. Finally, CX Institutional purchased a new stake in shares of Zions Bancorporation, N.A. during the first quarter worth about $53,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Trading Down 0.5%

Shares of ZION stock opened at $51.78 on Tuesday. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 1.37 and a beta of 0.93. 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 fifty-two week low of $39.32 and a fifty-two week high of $63.22. The firm’s 50 day moving average price is $52.42 and its two-hundred day moving average price is $50.46.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The business had revenue of $838.00 million for the quarter, compared to analysts’ expectations of $810.24 million. During the same period in the previous year, the company posted $1.28 earnings per share. On average, analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, August 14th. 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 dividend yield of 3.5%. Zions Bancorporation, N.A.’s dividend payout ratio is presently 31.44%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ZION shares. JPMorgan Chase & Co. lifted their price target on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd. Wells Fargo & Company raised their target price on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Morgan Stanley boosted their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Finally, Citigroup increased their price target on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.78.

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.