Zions Bancorporation N.A. Buys 2,363 Shares of Lamar Advertising (NASDAQ:LAMR)

Zions Bancorporation N.A. lifted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 18.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,407 shares of the real estate investment trust’s stock after purchasing an additional 2,363 shares during the period. Zions Bancorporation N.A.’s holdings in Lamar Advertising were worth $2,058,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LAMR. Blue Trust Inc. grew its holdings in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Lamar Advertising during the 3rd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in shares of Lamar Advertising during the 2nd quarter valued at $30,000. Finally, Assetmark Inc. grew its holdings in shares of Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Down 0.9 %

Shares of LAMR opened at $127.15 on Friday. The firm’s 50-day moving average price is $131.98 and its 200-day moving average price is $123.22. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of 25.43 and a beta of 1.52. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 1-year low of $95.81 and a 1-year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 EPS. Sell-side analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.40%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is presently 112.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen increased their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company cut their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.