Majedie Asset Management Ltd Acquires 27,398 Shares of Zions Bancorp (NASDAQ:ZION)

Majedie Asset Management Ltd lifted its position in Zions Bancorp (NASDAQ:ZION) by 39.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,501 shares of the bank’s stock after buying an additional 27,398 shares during the period. Majedie Asset Management Ltd’s holdings in Zions Bancorp were worth $4,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in Zions Bancorp by 2,081.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after purchasing an additional 2,872 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in shares of Zions Bancorp in the 4th quarter valued at about $157,000. Americafirst Capital Management LLC bought a new position in shares of Zions Bancorp in the 2nd quarter valued at about $175,000. RNC Capital Management LLC bought a new position in shares of Zions Bancorp in the 4th quarter valued at about $203,000. Finally, Conning Inc. bought a new position in shares of Zions Bancorp in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

In related news, General Counsel Thomas E. Laursen sold 1,250 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $54.28, for a total value of $67,850.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Keith D. Maio sold 13,019 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total transaction of $604,602.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,540 shares of company stock worth $2,725,225. 1.46% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on Zions Bancorp and gave the company a “market perform” rating in a report on Tuesday, January 23rd. DA Davidson reiterated a “buy” rating and issued a $62.00 target price on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Wells Fargo & Co reiterated an “outperform” rating and issued a $65.00 target price (up from $60.00) on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Sanford C. Bernstein set a $58.00 target price on shares of Zions Bancorp and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Zions Bancorp to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $55.22.

Shares of Zions Bancorp (NASDAQ ZION) traded down $0.10 during trading hours on Wednesday, reaching $51.96. 1,767,000 shares of the company were exchanged, compared to its average volume of 2,483,688. The company has a market capitalization of $10,283.52, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.54 and a beta of 1.45. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $55.61. 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 Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $665.00 million for the quarter, compared to analyst estimates of $670.55 million. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. During the same quarter in the previous year, the business earned $0.60 earnings per share. sell-side analysts predict that Zions Bancorp will post 3.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 15th will be issued a $0.20 dividend. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 annualized dividend and a yield of 1.54%. Zions Bancorp’s payout ratio is presently 24.62%.

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Zions Bancorp Company 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.

Institutional Ownership by Quarter for Zions Bancorp (NASDAQ:ZION)

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