TD Asset Management Inc. lessened its holdings in shares of Zions Bancorporation (NASDAQ:ZION) by 34.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,586 shares of the bank’s stock after selling 33,885 shares during the quarter. TD Asset Management Inc.’s holdings in Zions Bancorporation were worth $3,000,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Zions Bancorporation by 4.3% during the second quarter. Vanguard Group Inc. now owns 21,245,566 shares of the bank’s stock worth $932,892,000 after purchasing an additional 882,190 shares in the last quarter. State Street Corp lifted its position in shares of Zions Bancorporation by 8.7% during the second quarter. State Street Corp now owns 12,373,314 shares of the bank’s stock worth $543,315,000 after purchasing an additional 986,548 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Zions Bancorporation by 2.0% during the second quarter. TIAA CREF Investment Management LLC now owns 3,590,330 shares of the bank’s stock worth $157,651,000 after purchasing an additional 68,904 shares in the last quarter. Balyasny Asset Management LLC lifted its position in shares of Zions Bancorporation by 705.8% during the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock worth $139,918,000 after purchasing an additional 2,791,044 shares in the last quarter. Finally, TCW Group Inc. lifted its position in shares of Zions Bancorporation by 1.0% during the third quarter. TCW Group Inc. now owns 2,953,568 shares of the bank’s stock worth $139,349,000 after purchasing an additional 28,685 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of Zions Bancorporation (ZION) opened at $50.93 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 1-year low of $38.43 and a 1-year high of $52.20. The firm has a market cap of $10,170.00, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.93 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 analysts’ consensus estimates of $0.73 by ($0.01). Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. During the same period in the previous year, the business posted $0.57 EPS. sell-side analysts expect that Zions Bancorporation will post 2.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders 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 1.26%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s dividend payout ratio (DPR) is presently 23.97%.
ZION has been the topic of several research reports. Bank of America raised shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $50.00 to $52.00 in a research report on Wednesday, August 16th. Robert W. Baird raised shares of Zions Bancorporation from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a research report on Friday, September 8th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $51.00 target price on shares of Zions Bancorporation in a report on Saturday, September 16th. Jefferies Group reaffirmed a “buy” rating and issued a $49.00 target price on shares of Zions Bancorporation in a report on Friday, September 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $48.00 target price on shares of Zions Bancorporation in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $49.84.
In other Zions Bancorporation news, insider Joseph L. Reilly sold 23,271 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bruce K. Alexander sold 6,089 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total transaction of $292,089.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,979 shares of company stock worth $2,057,927. 1.46% of the stock is owned by corporate insiders.
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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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