Basswood Capital Management L.L.C. trimmed its position in shares of Zions Bancorporation NA (NASDAQ:ZION) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 692,629 shares of the bank’s stock after selling 99,150 shares during the period. Zions Bancorporation NA accounts for approximately 1.7% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 15th largest holding. Basswood Capital Management L.L.C. owned 0.36% of Zions Bancorporation NA worth $28,218,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. acquired a new position in shares of Zions Bancorporation NA during the third quarter valued at $8,374,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Zions Bancorporation NA by 26.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 29,002 shares of the bank’s stock valued at $1,454,000 after acquiring an additional 5,982 shares during the period. ING Groep NV acquired a new position in shares of Zions Bancorporation NA during the third quarter valued at $224,000. SG Americas Securities LLC raised its stake in shares of Zions Bancorporation NA by 19.8% during the third quarter. SG Americas Securities LLC now owns 48,145 shares of the bank’s stock valued at $2,414,000 after purchasing an additional 7,957 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Zions Bancorporation NA by 3.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,442 shares of the bank’s stock valued at $33,773,000 after purchasing an additional 24,017 shares in the last quarter. 90.80% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on ZION shares. Vining Sparks restated a “buy” rating and set a $63.00 price objective on shares of Zions Bancorporation NA in a research note on Thursday, January 24th. BidaskClub upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. ValuEngine upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research restated a “hold” rating and set a $43.00 price objective on shares of Zions Bancorporation NA in a research note on Monday, December 31st. Finally, Argus started coverage on shares of Zions Bancorporation NA in a research note on Monday, December 17th. They set a “buy” rating and a $51.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $56.18.
In related news, insider Steven Dan Stephens sold 8,000 shares of Zions Bancorporation NA stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $48.20, for a total value of $385,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruce K. Alexander sold 5,169 shares of Zions Bancorporation NA stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $50.15, for a total value of $259,225.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,225 shares of company stock worth $1,537,180. 1.60% of the stock is owned by company insiders.
Shares of Zions Bancorporation NA stock opened at $49.16 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. Zions Bancorporation NA has a 52 week low of $38.08 and a 52 week high of $59.19. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.37 and a beta of 1.51.
Zions Bancorporation NA (NASDAQ:ZION) last issued its quarterly earnings results on Tuesday, January 22nd. The bank reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. Zions Bancorporation NA had a net margin of 29.14% and a return on equity of 12.57%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $712.48 million. During the same period in the previous year, the business earned $0.80 earnings per share. As a group, analysts predict that Zions Bancorporation NA will post 4.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 21st. Shareholders of record on Thursday, February 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, February 13th. Zions Bancorporation NA’s dividend payout ratio (DPR) is presently 29.41%.
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Zions Bancorporation NA 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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