Jefferies Group LLC boosted its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 2,035.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,705 shares of the bank’s stock after acquiring an additional 81,691 shares during the period. Jefferies Group LLC’s holdings in Zions Bancorp were worth $4,298,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in Zions Bancorp during the second quarter worth about $122,000. NumerixS Investment Technologies Inc bought a new position in Zions Bancorp during the second quarter worth about $158,000. Huntington National Bank lifted its holdings in Zions Bancorp by 2,443.4% during the third quarter. Huntington National Bank now owns 3,281 shares of the bank’s stock worth $164,000 after acquiring an additional 3,152 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Zions Bancorp by 1,637.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock worth $183,000 after acquiring an additional 3,275 shares in the last quarter. Finally, First Personal Financial Services bought a new position in Zions Bancorp during the third quarter worth about $191,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.
Shares of Zions Bancorp stock opened at $45.11 on Friday. The stock has a market capitalization of $8.82 billion, a PE ratio of 12.01, a PEG ratio of 1.33 and a beta of 1.37. Zions Bancorp has a one year low of $44.55 and a one year high of $59.19. 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 (NASDAQ:ZION) last released its earnings results 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 business 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 quarter in the previous year, the business earned $0.72 earnings per share. Analysts predict that Zions Bancorp will post 4.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Tuesday, November 13th. Zions Bancorp’s dividend payout ratio is currently 41.96%.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded 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. ValuEngine lowered Zions Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. BidaskClub lowered Zions Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, September 20th. Piper Jaffray Companies upgraded Zions Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $57.00 in a report on Tuesday, November 6th. Finally, SunTrust Banks boosted their price target on Zions Bancorp to $52.00 and gave the company a “buy” rating in a report on Tuesday, October 23rd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $58.57.
In related news, insider Leeanne B. Linderman sold 5,878 shares of Zions Bancorp stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $50.26, for a total value of $295,428.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Thomas E. Laursen sold 1,381 shares of Zions Bancorp stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $48.33, for a total value of $66,743.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,259 shares of company stock worth $1,170,272. 1.60% of the stock is owned by company insiders.
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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