Gateway Investment Advisers LLC trimmed its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,976 shares of the bank’s stock after selling 1,905 shares during the period. Gateway Investment Advisers LLC’s holdings in Zions Bancorp were worth $609,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Americafirst Capital Management LLC bought a new stake in Zions Bancorp in the 2nd quarter worth approximately $175,000. RNC Capital Management LLC bought a new stake in Zions Bancorp in the 4th quarter worth approximately $203,000. Conning Inc. bought a new stake in Zions Bancorp in the third quarter valued at approximately $210,000. Janney Montgomery Scott LLC bought a new stake in Zions Bancorp in the third quarter valued at approximately $212,000. Finally, Magnetar Financial LLC bought a new stake in Zions Bancorp in the third quarter valued at approximately $215,000. 93.46% of the stock is owned by institutional investors.
Zions Bancorp (ZION) opened at $52.06 on Tuesday. The company has a market capitalization of $10,400.00, a P/E ratio of 19.87, a PEG ratio of 1.53 and a beta of 1.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a 1-year low of $38.43 and a 1-year high of $55.61.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.07. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. The firm had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $670.55 million. During the same quarter in the previous year, the business earned $0.60 EPS. research analysts forecast that Zions Bancorp will post 3.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a yield of 1.54%. Zions Bancorp’s payout ratio is 24.43%.
A number of equities analysts recently commented on the company. BidaskClub upgraded Zions Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. B. Riley reaffirmed a “buy” rating and issued a $60.00 price target on shares of Zions Bancorp in a research note on Tuesday, January 23rd. DA Davidson reaffirmed a “buy” rating and issued a $62.00 price target on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Royal Bank of Canada increased their target price on Zions Bancorp from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 24th. Finally, Sanford C. Bernstein set a $58.00 price target on Zions Bancorp and gave the company a “hold” rating in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $54.78.
In related news, General Counsel Thomas E. Laursen sold 1,600 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $46.55, for a total transaction of $74,480.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph L. Reilly sold 23,271 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total value of $1,086,755.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,425 shares of company stock valued at $2,513,426. 1.46% of the stock is currently owned by corporate insiders.
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Zions Bancorp 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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