Los Angeles Capital Management & Equity Research Inc. lowered its stake in shares of Zions Bancorporation (NASDAQ:ZION) by 14.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,429 shares of the bank’s stock after selling 14,981 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Zions Bancorporation were worth $4,031,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in ZION. Balyasny Asset Management LLC grew its stake in Zions Bancorporation by 705.8% in the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock valued at $139,918,000 after purchasing an additional 2,791,044 shares in the last quarter. Artemis Investment Management LLP grew its stake in Zions Bancorporation by 332.1% in the third quarter. Artemis Investment Management LLP now owns 1,751,662 shares of the bank’s stock valued at $82,635,000 after purchasing an additional 1,346,240 shares in the last quarter. Cramer Rosenthal Mcglynn LLC lifted its position in shares of Zions Bancorporation by 276.0% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock worth $80,080,000 after buying an additional 1,338,748 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Zions Bancorporation by 16,303.3% in the second quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock worth $54,056,000 after buying an additional 1,223,566 shares during the last quarter. Finally, Harbour Capital Advisors LLC lifted its position in shares of Zions Bancorporation by 4,471.9% in the second quarter. Harbour Capital Advisors LLC now owns 1,165,240 shares of the bank’s stock worth $26,537,000 after buying an additional 1,139,753 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.
ZION has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Zions Bancorporation from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 24th. FBR & Co reaffirmed a “buy” rating and issued a $54.00 price target on shares of Zions Bancorporation in a research report on Tuesday, October 24th. Zacks Investment Research cut Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Robert W. Baird raised Zions Bancorporation from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Friday, September 8th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $44.00 price target on shares of Zions Bancorporation in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $49.84.
Shares of Zions Bancorporation (NASDAQ:ZION) traded up $0.55 during trading on Thursday, reaching $50.47. The company had a trading volume of 2,414,703 shares, compared to its average volume of 2,526,066. The firm has a market cap of $10,162.96, a P/E ratio of 19.13, a PEG ratio of 1.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation has a twelve month low of $38.43 and a twelve month high of $52.20.
Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. During the same quarter last year, the company posted $0.57 EPS. equities research analysts predict that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, November 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.27%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s dividend payout ratio (DPR) is presently 24.06%.
In other Zions Bancorporation news, insider Bruce K. Alexander sold 6,089 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total transaction of $292,089.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph L. Reilly sold 23,271 shares of Zions Bancorporation stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total transaction of $1,086,755.70. The disclosure for this sale can be found here. Insiders have sold 43,979 shares of company stock valued at $2,057,927 in the last quarter. 1.46% of the stock is currently owned by corporate insiders.
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About Zions Bancorporation
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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