Oppenheimer & Co. Inc. Invests $224,000 in Zions Bancorporation, N.A. (NASDAQ:ZION)

Oppenheimer & Co. Inc. purchased a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) during the 1st quarter, HoldingsChannel reports. The fund purchased 4,500 shares of the bank’s stock, valued at approximately $224,000.

Several other institutional investors have also recently made changes to their positions in ZION. Fisher Asset Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the fourth quarter worth $389,000. Smartleaf Asset Management LLC increased its holdings in shares of Zions Bancorporation, N.A. by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock worth $122,000 after purchasing an additional 368 shares during the period. SRS Capital Advisors Inc. lifted its position in Zions Bancorporation, N.A. by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after purchasing an additional 493 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Zions Bancorporation, N.A. by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 6,666 shares of the bank’s stock valued at $362,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Zions Bancorporation, N.A. by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after purchasing an additional 194,995 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ZION shares. Jefferies Financial Group started coverage on shares of Zions Bancorporation, N.A. in a research report on Wednesday, May 21st. They set an “underperform” rating and a $40.00 target price for the company. Royal Bank Of Canada reduced their target price on Zions Bancorporation, N.A. from $63.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley reduced their target price on Zions Bancorporation, N.A. from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Wall Street Zen raised Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, JPMorgan Chase & Co. increased their target price on Zions Bancorporation, N.A. from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $57.22.

Zions Bancorporation, N.A. Stock Up 0.2%

Shares of NASDAQ:ZION opened at $54.87 on Friday. The stock’s 50-day moving average price is $48.33 and its 200-day moving average price is $50.70. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The stock has a market capitalization of $8.10 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Zions Bancorporation, N.A. had a return on equity of 13.53% and a net margin of 16.08%. The firm had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $792.49 million. During the same period last year, the firm earned $0.96 earnings per share. On average, equities analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.13%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 33.59%.

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.