Bank of New York Mellon Corp raised its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,678,622 shares of the bank’s stock after acquiring an additional 11,960 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.86% of Zions Bancorp worth $88,447,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in shares of Zions Bancorp by 11.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 11,794 shares of the bank’s stock worth $621,000 after acquiring an additional 1,215 shares in the last quarter. Financial Counselors Inc. boosted its position in shares of Zions Bancorp by 3.2% during the 2nd quarter. Financial Counselors Inc. now owns 42,253 shares of the bank’s stock worth $2,226,000 after acquiring an additional 1,308 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of Zions Bancorp by 9.7% during the 2nd quarter. First Republic Investment Management Inc. now owns 15,176 shares of the bank’s stock worth $799,000 after acquiring an additional 1,338 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Zions Bancorp by 10.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 16,340 shares of the bank’s stock worth $861,000 after acquiring an additional 1,489 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Zions Bancorp by 0.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 173,522 shares of the bank’s stock worth $9,156,000 after acquiring an additional 1,594 shares in the last quarter. 94.75% of the stock is owned by institutional investors and hedge funds.
In other Zions Bancorp news, insider A Scott Anderson sold 12,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $47.30, for a total transaction of $567,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Richard Young sold 2,538 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $53.32, for a total value of $135,326.16. The disclosure for this sale can be found here. Insiders have sold a total of 24,965 shares of company stock valued at $1,230,717 over the last ninety days. 1.60% of the stock is owned by insiders.
Shares of NASDAQ ZION opened at $50.16 on Friday. The stock has a market capitalization of $9.56 billion, a P/E ratio of 17.54, a PEG ratio of 1.42 and a beta of 1.36. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.13. Zions Bancorp has a 52-week low of $43.50 and a 52-week high of $59.19.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. The company had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $699.87 million. During the same period last year, the firm earned $0.72 EPS. As a group, research analysts forecast that Zions Bancorp will post 4.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. Zions Bancorp’s payout ratio is 41.96%.
ZION has been the subject of several analyst reports. Zacks Investment Research raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, July 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Zions Bancorp in a research report on Friday, July 13th. Royal Bank of Canada reissued a “buy” rating and issued a $61.00 target price on shares of Zions Bancorp in a research report on Tuesday, July 24th. SunTrust Banks upped their target price on Zions Bancorp to $52.00 and gave the company a “buy” rating in a research report on Tuesday, October 23rd. They noted that the move was a valuation call. Finally, Raymond James decreased their target price on Zions Bancorp from $62.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $58.57.
Zions Bancorp Profile
Zions Bancorporation, National Association provides various 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; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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