Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Zions Bancorp (NASDAQ:ZION) by 62.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,637 shares of the bank’s stock after selling 251,261 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Zions Bancorp worth $7,605,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio lifted its holdings in Zions Bancorp by 121.3% during the 2nd quarter. Strs Ohio now owns 48,783 shares of the bank’s stock worth $2,570,000 after buying an additional 26,735 shares during the period. Glenmede Trust Co. NA lifted its holdings in Zions Bancorp by 190.6% during the 2nd quarter. Glenmede Trust Co. NA now owns 144,345 shares of the bank’s stock worth $7,605,000 after buying an additional 94,667 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Zions Bancorp by 1.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 137,781 shares of the bank’s stock worth $7,261,000 after buying an additional 1,595 shares during the period. HWG Holdings LP lifted its holdings in Zions Bancorp by 9.0% during the 2nd quarter. HWG Holdings LP now owns 47,909 shares of the bank’s stock worth $2,524,000 after buying an additional 3,966 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Zions Bancorp by 101.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 39,525 shares of the bank’s stock worth $2,083,000 after buying an additional 19,928 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Leeanne B. Linderman sold 5,878 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $50.26, for a total transaction of $295,428.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider A Scott Anderson sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $47.30, for a total value of $567,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,259 shares of company stock worth $1,170,272. 1.60% of the stock is owned by company insiders.
Shares of NASDAQ:ZION opened at $45.11 on Friday. The stock has a market capitalization of $8.82 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 0.82. Zions Bancorp has a 1 year low of $44.55 and a 1 year high of $59.19.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. The company had revenue of $701.00 million for the quarter, compared to the consensus estimate of $699.87 million. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. During the same period in the previous year, the business earned $0.72 EPS. On average, equities research analysts forecast that Zions Bancorp will post 4.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Tuesday, November 13th. Zions Bancorp’s dividend payout ratio (DPR) is currently 41.96%.
ZION has been the topic of several recent research reports. Zacks Investment Research raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday, October 24th. Robert W. Baird raised Zions Bancorp from an “underperform” rating to a “neutral” rating and set a $49.00 target price on the stock in a report on Tuesday, October 23rd. Raymond James cut their target price on Zions Bancorp from $62.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. UBS Group downgraded Zions Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, September 7th. Finally, Deutsche Bank cut their target price on Zions Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $58.57.
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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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