Insider Selling: Zions Bancorp (ZION) Insider Sells 1,242 Shares of Stock
Zions Bancorp (NASDAQ:ZION) insider David E. Blackford sold 1,242 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $40.73, for a total transaction of $50,586.66. Following the completion of the sale, the insider now owns 28,696 shares of the company’s stock, valued at approximately $1,168,788.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Zions Bancorp (NASDAQ:ZION) traded down 1.55% on Wednesday, reaching $40.70. 2,568,271 shares of the company’s stock were exchanged. The stock has a market capitalization of $8.25 billion, a P/E ratio of 18.33 and a beta of 1.47. The firm’s 50 day moving average is $40.60 and its 200 day moving average is $41.81. Zions Bancorp has a 1-year low of $23.02 and a 1-year high of $48.33.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 24th. The bank reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.07. The firm had revenue of $621 million for the quarter, compared to analysts’ expectations of $619.90 million. Zions Bancorp had a return on equity of 6.80% and a net margin of 18.99%. During the same quarter last year, the business posted $0.38 EPS. Analysts expect that Zions Bancorp will post $2.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 18th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. Zions Bancorp’s dividend payout ratio is currently 16.08%.
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ZION has been the subject of several research reports. Keefe, Bruyette & Woods set a $44.00 price target on shares of Zions Bancorp and gave the company a “hold” rating in a research report on Monday, April 17th. Jefferies Group LLC reissued a “buy” rating and issued a $49.00 price objective on shares of Zions Bancorp in a research note on Wednesday, April 5th. BMO Capital Markets reissued a “hold” rating and issued a $46.00 price objective on shares of Zions Bancorp in a research note on Wednesday, March 22nd. Goldman Sachs Group Inc boosted their price objective on shares of Zions Bancorp to $50.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Finally, Compass Point raised shares of Zions Bancorp from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $42.71.
A number of institutional investors have recently modified their holdings of ZION. Global X Management Co. LLC boosted its position in shares of Zions Bancorp by 340.4% in the first quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock worth $127,000 after buying an additional 2,335 shares in the last quarter. Northwest Quadrant Wealth Management LLC bought a new position in shares of Zions Bancorp during the fourth quarter worth $137,000. Segantii Capital Management Ltd bought a new position in shares of Zions Bancorp during the first quarter worth $151,000. Cypress Capital Management LLC WY bought a new position in shares of Zions Bancorp during the first quarter worth $169,000. Finally, SRB Corp bought a new position in shares of Zions Bancorp during the third quarter worth $173,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.
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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