BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Zions Bancorp (NASDAQ:ZION) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,028 shares of the bank’s stock after selling 15,508 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.09% of Zions Bancorp worth $8,276,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in Zions Bancorp by 26.3% during the 3rd quarter. D.A. Davidson & CO. now owns 5,198 shares of the bank’s stock valued at $261,000 after purchasing an additional 1,083 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Zions Bancorp by 13.5% during the 3rd quarter. Alps Advisors Inc. now owns 9,343 shares of the bank’s stock valued at $469,000 after purchasing an additional 1,108 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Zions Bancorp by 11.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 11,794 shares of the bank’s stock valued at $621,000 after purchasing an additional 1,215 shares during the last quarter. MainStreet Investment Advisors LLC lifted its holdings in Zions Bancorp by 1.9% during the 3rd quarter. MainStreet Investment Advisors LLC now owns 65,772 shares of the bank’s stock valued at $3,298,000 after purchasing an additional 1,254 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in Zions Bancorp by 9.7% during the 2nd quarter. First Republic Investment Management Inc. now owns 15,176 shares of the bank’s stock valued at $799,000 after purchasing an additional 1,338 shares during the last quarter. 94.40% of the stock is owned by institutional investors.
ZION opened at $45.11 on Friday. Zions Bancorp has a fifty-two week low of $44.55 and a fifty-two week high of $59.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $8.82 billion, a PE ratio of 15.77, a PEG ratio of 1.33 and a beta of 1.37.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $699.87 million. During the same quarter last year, the business earned $0.72 earnings per share. On average, sell-side analysts predict that Zions Bancorp will post 4.07 EPS for the current year.
The business also recently declared 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 of this dividend was Tuesday, November 13th. Zions Bancorp’s payout ratio is currently 41.96%.
In related news, insider Leeanne B. Linderman sold 5,878 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $50.26, for a total value of $295,428.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Leeanne B. Linderman sold 5,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $48.10, for a total value of $240,500.00. The disclosure for this sale can be found here. Insiders sold 24,259 shares of company stock worth $1,170,272 in the last 90 days. 1.60% of the stock is owned by company insiders.
ZION has been the subject of a number of research reports. BidaskClub raised Zions Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. BMO Capital Markets dropped their target price on Zions Bancorp from $55.00 to $52.00 and set a “market perform” rating for the company in a report on Tuesday, October 23rd. Raymond James lifted their target price on Zions Bancorp from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, October 29th. Piper Jaffray Companies raised Zions Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $57.00 in a report on Tuesday, November 6th. Finally, ValuEngine downgraded Zions Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. Zions Bancorp presently has an average rating of “Buy” and a consensus price target of $58.57.
Zions Bancorp Company 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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