Andra AP fonden grew its stake in shares of Zions Bancorporation (NASDAQ:ZION) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,600 shares of the bank’s stock after purchasing an additional 4,200 shares during the period. Andra AP fonden’s holdings in Zions Bancorporation were worth $2,151,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cadence Capital Management LLC boosted its stake in shares of Zions Bancorporation by 0.4% during the 2nd quarter. Cadence Capital Management LLC now owns 8,139 shares of the bank’s stock valued at $357,000 after purchasing an additional 34 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Zions Bancorporation by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,054 shares of the bank’s stock valued at $661,000 after purchasing an additional 39 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Zions Bancorporation by 0.8% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,794 shares of the bank’s stock valued at $254,000 after purchasing an additional 45 shares in the last quarter. Veritable L.P. boosted its stake in shares of Zions Bancorporation by 0.9% during the 2nd quarter. Veritable L.P. now owns 5,775 shares of the bank’s stock valued at $254,000 after purchasing an additional 50 shares in the last quarter. Finally, OxFORD Asset Management LLP boosted its stake in shares of Zions Bancorporation by 0.7% during the 2nd quarter. OxFORD Asset Management LLP now owns 19,697 shares of the bank’s stock valued at $865,000 after purchasing an additional 129 shares in the last quarter. 94.51% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Dianne R. James sold 1,585 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $45.22, for a total transaction of $71,673.70. Following the completion of the transaction, the insider now directly owns 21,866 shares of the company’s stock, valued at $988,780.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger B. Porter acquired 1,616 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $43.99 per share, with a total value of $71,087.84. Following the completion of the acquisition, the director now directly owns 42,001 shares of the company’s stock, valued at $1,847,623.99. The disclosure for this purchase can be found here. Insiders have sold 16,585 shares of company stock valued at $747,614 over the last three months. 1.46% of the stock is owned by corporate insiders.
Zions Bancorporation (ZION) opened at $43.93 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a twelve month low of $35.96 and a twelve month high of $48.33. The firm has a market cap of $8,774.75, a P/E ratio of 16.52, a PEG ratio of 1.70 and a beta of 1.48.
Zions Bancorporation (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. The company had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $666.83 million. During the same period in the previous year, the firm earned $0.57 earnings per share. analysts anticipate that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.46%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, November 14th. Zions Bancorporation’s payout ratio is presently 18.05%.
ZION has been the topic of a number of research reports. Bank of America Corporation raised shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and lifted their target price for the company from $50.00 to $52.00 in a research note on Wednesday, August 16th. Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 target price on shares of Zions Bancorporation in a research note on Friday, September 15th. FBR & Co reissued a “buy” rating and set a $54.00 price objective on shares of Zions Bancorporation in a research note on Tuesday, October 24th. Morgan Stanley reissued an “equal weight” rating and set a $49.00 price objective (up previously from $48.00) on shares of Zions Bancorporation in a research note on Wednesday, October 4th. Finally, Zacks Investment Research lowered shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.50.
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Zions Bancorporation Profile
Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.
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