Millennium Management LLC decreased its position in shares of Zions Bancorp (NASDAQ:ZION) by 20.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,234,786 shares of the bank’s stock after selling 1,377,569 shares during the period. Zions Bancorp accounts for 0.4% of Millennium Management LLC’s investment portfolio, making the stock its 14th biggest holding. Millennium Management LLC owned approximately 2.65% of Zions Bancorp worth $266,084,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its position in Zions Bancorp by 109.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,935 shares of the bank’s stock worth $1,063,000 after acquiring an additional 10,955 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in Zions Bancorp by 8.8% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 37,554 shares of the bank’s stock worth $1,908,000 after acquiring an additional 3,035 shares during the last quarter. G&S Capital LLC acquired a new position in Zions Bancorp during the 4th quarter worth $115,000. TIAA CREF Investment Management LLC lifted its position in Zions Bancorp by 1.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,412,016 shares of the bank’s stock worth $173,433,000 after acquiring an additional 59,927 shares during the last quarter. Finally, Paloma Partners Management Co lifted its position in Zions Bancorp by 209.6% during the 4th quarter. Paloma Partners Management Co now owns 15,568 shares of the bank’s stock worth $792,000 after acquiring an additional 10,540 shares during the last quarter. 94.63% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on ZION. Piper Jaffray Companies reissued a “hold” rating on shares of Zions Bancorp in a research 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 research 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 research report on Friday, March 9th. Barclays boosted their target price on shares of Zions Bancorp from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, March 2nd. Finally, BMO Capital Markets boosted their target price on shares of Zions Bancorp and gave the stock a “market perform” rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $55.89.
Shares of Zions Bancorp (ZION) opened at $55.75 on Wednesday. The firm has a market cap of $11,140.00, a PE ratio of 19.63, a P/E/G ratio of 1.66 and a beta of 1.37. 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 posted its earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.07. The business had revenue of $665.00 million for the quarter, compared to analysts’ expectations 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 firm posted $0.60 earnings per share. equities analysts expect that Zions Bancorp will post 3.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s payout ratio is presently 28.17%.
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Zions Bancorp 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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