Quantitative Investment Management LLC trimmed its stake in shares of Zions Bancorp (NASDAQ:ZION) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,000 shares of the bank’s stock after selling 16,800 shares during the quarter. Quantitative Investment Management LLC’s holdings in Zions Bancorp were worth $4,269,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in ZION. Crewe Advisors LLC bought a new position in Zions Bancorp during the fourth quarter worth $102,000. Delpha Capital Management LLC acquired a new stake in shares of Zions Bancorp during the fourth quarter worth $107,000. Tower Research Capital LLC TRC lifted its holdings in shares of Zions Bancorp by 1,274.6% during the fourth 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 in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Zions Bancorp by 2,081.2% during the fourth 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 in the last quarter. Finally, Blue Sky Asset Management LLC acquired a new stake in shares of Zions Bancorp during the fourth quarter worth $157,000. 94.63% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on ZION. Piper Jaffray reissued a “hold” rating on shares of Zions Bancorp in a report on Tuesday, March 6th. B. Riley reissued a “buy” rating and set a $64.00 target price (up previously from $60.00) on shares of Zions Bancorp in a report on Tuesday, February 27th. Sandler O’Neill reissued a “buy” rating and set a $62.00 target price on shares of Zions Bancorp in a report on Friday, March 9th. UBS began coverage on Zions Bancorp in a report on Wednesday, March 21st. They set a “buy” rating and a $67.00 target price for the company. Finally, Raymond James Financial raised Zions Bancorp from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a report on Thursday, March 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Zions Bancorp has a consensus rating of “Buy” and a consensus price target of $56.67.
ZION stock opened at $51.44 on Friday. The stock has a market capitalization of $10,385.78, a P/E ratio of 17.99, a P/E/G ratio of 1.54 and a beta of 1.38. Zions Bancorp has a 52 week low of $38.43 and a 52 week 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.
Zions Bancorp (NASDAQ:ZION) last issued its earnings results on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.07. The firm had revenue of $665.00 million during the quarter, compared to the consensus estimate of $670.55 million. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. During the same quarter in the previous year, the firm earned $0.60 earnings per share. sell-side analysts predict that Zions Bancorp will post 3.7 earnings per share for the current fiscal year.
In other Zions Bancorp news, insider David E. Blackford sold 4,115 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $51.47, for a total transaction of $211,799.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander Hume sold 7,196 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $53.87, for a total value of $387,648.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,224 shares of company stock valued at $3,156,817. Insiders own 1.46% of the company’s stock.
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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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