Legal & General Group Plc reduced its position in Zions Bancorp (NASDAQ:ZION) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 962,940 shares of the bank’s stock after selling 15,413 shares during the quarter. Legal & General Group Plc owned 0.49% of Zions Bancorp worth $50,760,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Zions Bancorp by 0.9% in the 1st quarter. BlackRock Inc. now owns 13,536,742 shares of the bank’s stock worth $713,792,000 after purchasing an additional 115,071 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Zions Bancorp by 74.7% in the 1st quarter. JPMorgan Chase & Co. now owns 5,381,320 shares of the bank’s stock worth $283,756,000 after purchasing an additional 2,300,318 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Zions Bancorp by 3.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 4,566,875 shares of the bank’s stock worth $240,811,000 after purchasing an additional 147,789 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Zions Bancorp by 2.0% in the 4th quarter. Thrivent Financial For Lutherans now owns 4,419,086 shares of the bank’s stock worth $224,623,000 after purchasing an additional 87,684 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Zions Bancorp by 1.8% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,412,016 shares of the bank’s stock worth $173,433,000 after purchasing an additional 59,927 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.
In other Zions Bancorp news, President Scott J. Mclean sold 17,832 shares of the stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $55.18, for a total value of $983,969.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Keith D. Maio sold 9,987 shares of the stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $55.54, for a total value of $554,677.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,315 shares of company stock valued at $2,803,649. Company insiders own 1.60% of the company’s stock.
Zions Bancorp opened at $53.17 on Friday, according to Marketbeat.com. Zions Bancorp has a fifty-two week low of $41.22 and a fifty-two week high of $59.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.35.
Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 23rd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.27. Zions Bancorp had a return on equity of 10.41% and a net margin of 24.49%. The business had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $666.12 million. During the same quarter last year, the business posted $0.61 EPS. research analysts expect that Zions Bancorp will post 3.97 earnings per share for the current year.
A number of research firms have recently issued reports on ZION. BidaskClub cut Zions Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 5th. Morgan Stanley upped their price objective on Zions Bancorp from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 30th. Wedbush began coverage on Zions Bancorp in a report on Monday, May 14th. They issued a “neutral” rating and a $62.00 price objective for the company. Barclays upped their price objective on Zions Bancorp from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, April 24th. Finally, BMO Capital Markets dropped their target price on Zions Bancorp from $60.00 to $57.00 and set a “market perform” rating for the company in a report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Zions Bancorp currently has a consensus rating of “Buy” and a consensus price target of $58.29.
Zions Bancorp Company Profile
Zions Bancorporation, a financial holding company, provides a range of banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; and residential mortgage servicing and lending.
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