Nordea Investment Management AB Increases Stake in Zions Bancorporation, N.A. $ZION

Nordea Investment Management AB raised its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 15.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 256,710 shares of the bank’s stock after purchasing an additional 33,449 shares during the period. Nordea Investment Management AB’s holdings in Zions Bancorporation, N.A. were worth $13,349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZION. AQR Capital Management LLC lifted 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 valued at $139,927,000 after purchasing an additional 2,194,514 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Zions Bancorporation, N.A. by 57.5% in the 1st 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. Allianz Asset Management GmbH increased its stake in shares of Zions Bancorporation, N.A. by 168.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,209,455 shares of the bank’s stock worth $62,819,000 after acquiring an additional 758,855 shares during the last quarter. FJ Capital Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter worth $21,361,000. Finally, MetLife Investment Management LLC increased its stake in shares of Zions Bancorporation, N.A. by 443.5% in the 1st quarter. MetLife Investment Management LLC now owns 452,263 shares of the bank’s stock worth $22,550,000 after acquiring an additional 369,052 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ZION shares. TD Cowen started coverage on Zions Bancorporation, N.A. in a research note on Thursday, September 25th. They issued a “hold” rating and a $64.00 target price for the company. Zacks Research downgraded Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Morgan Stanley raised their price objective on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Zions Bancorporation, N.A. in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald began coverage on Zions Bancorporation, N.A. in a research report on Wednesday, September 10th. They set an “overweight” rating and a $64.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and a consensus price target of $61.33.

Zions Bancorporation, N.A. Stock Performance

Shares of Zions Bancorporation, N.A. stock opened at $49.67 on Monday. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The company has a market cap of $7.33 billion, a PE ratio of 9.08, a P/E/G ratio of 1.07 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50-day simple moving average of $55.87 and a 200-day simple moving average of $51.56.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, June 12th. The bank reported $1.32 EPS for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The business had revenue of $705.00 million during the quarter. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.6%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 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.