Divergent Wealth Advisors LLC bought a new position in Zions Bancorp (NASDAQ:ZION) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,031 shares of the bank’s stock, valued at approximately $204,000. Zions Bancorp accounts for approximately 0.1% of Divergent Wealth Advisors LLC’s portfolio, making the stock its 18th largest holding.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in Zions Bancorp in the 4th quarter worth approximately $102,000. Delpha Capital Management LLC purchased a new position in Zions Bancorp in the 4th quarter worth approximately $107,000. G&S Capital LLC purchased a new position in Zions Bancorp in the 4th quarter worth approximately $115,000. Tower Research Capital LLC TRC increased its holdings in shares of Zions Bancorp by 1,274.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock worth $140,000 after buying an additional 2,562 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of 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 buying an additional 2,872 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Zions Bancorp (NASDAQ ZION) opened at $54.99 on Tuesday. Zions Bancorp has a 1-year low of $38.43 and a 1-year high of $57.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $10,910.47, a P/E ratio of 21.15, a P/E/G ratio of 1.63 and a beta of 1.37.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.07. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. The firm had revenue of $665.00 million during the quarter, compared to the consensus estimate of $670.55 million. During the same quarter last year, the firm earned $0.60 EPS. equities analysts expect that Zions Bancorp will post 3.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Wednesday, February 14th. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s dividend payout ratio (DPR) is 30.77%.
In related news, General Counsel Thomas E. Laursen sold 1,250 shares of Zions Bancorp stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Scott J. Mclean sold 31,309 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $56.15, for a total transaction of $1,758,000.35. The disclosure for this sale can be found here. Insiders sold a total of 57,224 shares of company stock valued at $3,156,817 in the last quarter. 1.46% of the stock is owned by insiders.
A number of brokerages have recently issued reports on ZION. Raymond James Financial upgraded shares of Zions Bancorp from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a report on Thursday, March 15th. They noted that the move was a valuation call. UBS upgraded shares of Zions Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, March 15th. Sandler O’Neill restated a “buy” rating and set a $62.00 price target on shares of Zions Bancorp in a report on Friday, March 9th. Piper Jaffray Companies restated a “hold” rating on shares of Zions Bancorp in a report on Tuesday, March 6th. Finally, Barclays raised their price target on shares of Zions Bancorp from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, March 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.15.
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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.
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