Connor Clark & Lunn Investment Management Ltd. Acquires 12,994 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

Posted by on Aug 23rd, 2023

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Zions Bancorporation, National Association (NASDAQ:ZION – Free Report) by 50.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,687 shares of the bank’s stock after acquiring an additional 12,994 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Zions Bancorporation, National Association were worth $1,158,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ZION. IAG Wealth Partners LLC bought a new stake in Zions Bancorporation, National Association in the first quarter worth approximately $26,000. Eagle Bay Advisors LLC boosted its holdings in shares of Zions Bancorporation, National Association by 54.8% during the 1st quarter. Eagle Bay Advisors LLC now owns 2,197 shares of the bank’s stock worth $29,000 after buying an additional 778 shares during the period. Spire Wealth Management bought a new stake in shares of Zions Bancorporation, National Association during the 1st quarter worth $31,000. AXS Investments LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $72,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Zions Bancorporation, National Association by 51.5% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,251 shares of the bank’s stock worth $83,000 after buying an additional 425 shares during the period. 85.56% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Trading Down 4.2 %

Shares of Zions Bancorporation, National Association stock opened at $33.09 on Wednesday. The stock has a market capitalization of $4.90 billion, a P/E ratio of 5.83, a price-to-earnings-growth ratio of 7.66 and a beta of 1.14. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. The company has a 50-day simple moving average of $32.72 and a 200 day simple moving average of $33.71. Zions Bancorporation, National Association has a 12-month low of $18.26 and a 12-month high of $59.75.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) last announced its earnings results on Wednesday, July 19th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The business had revenue of $1.17 million during the quarter, compared to analysts’ expectations of $750.34 million. Zions Bancorporation, National Association had a net margin of 21.43% and a return on equity of 19.24%. The firm’s revenue for the quarter was down 99.9% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS. Research analysts expect that Zions Bancorporation, National Association will post 4.46 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Wednesday, August 16th. Zions Bancorporation, National Association’s dividend payout ratio is currently 28.87%.

Analysts Set New Price Targets

Several research firms recently issued reports on ZION. Janney Montgomery Scott downgraded shares of Zions Bancorporation, National Association from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Thursday, June 15th. Royal Bank of Canada upped their price objective on shares of Zions Bancorporation, National Association from $32.00 to $37.00 and gave the stock a “sector perform” rating in a report on Thursday, July 20th. JPMorgan Chase & Co. downgraded shares of Zions Bancorporation, National Association from an “overweight” rating to a “neutral” rating and set a $39.00 price objective for the company. in a report on Monday, July 24th. The Goldman Sachs Group upped their price objective on shares of Zions Bancorporation, National Association from $30.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, July 20th. Finally, DA Davidson increased their price target on shares of Zions Bancorporation, National Association from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.74.

View Our Latest Stock Analysis on ZION

Zions Bancorporation, National Association Company Profile

(Free Report)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

Further Reading

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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