361 Capital LLC cut its stake in Zions Bancorporation (NASDAQ:ZION) by 12.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,215 shares of the bank’s stock after selling 6,491 shares during the quarter. 361 Capital LLC’s holdings in Zions Bancorporation were worth $2,133,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new position in shares of Zions Bancorporation during the 2nd quarter worth approximately $108,000. Americafirst Capital Management LLC acquired a new position in shares of Zions Bancorporation during the 2nd quarter worth approximately $175,000. Conning Inc. acquired a new position in shares of Zions Bancorporation during the 3rd quarter worth approximately $210,000. Global X Management Co. LLC raised its stake in shares of Zions Bancorporation by 58.6% during the 2nd quarter. Global X Management Co. LLC now owns 4,792 shares of the bank’s stock worth $210,000 after buying an additional 1,771 shares during the period. Finally, Bray Capital Advisors acquired a new position in shares of Zions Bancorporation during the 2nd quarter worth approximately $216,000. 95.48% of the stock is owned by institutional investors.
Zions Bancorporation (NASDAQ ZION) traded up $0.19 during midday trading on Friday, hitting $46.30. The stock had a trading volume of 1,287,380 shares, compared to its average volume of 2,520,131. The stock has a market cap of $9,210.00, a PE ratio of 17.48, a PEG ratio of 1.80 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a fifty-two week low of $37.64 and a fifty-two week high of $48.33.
Zions Bancorporation (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. The business had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $666.83 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. analysts expect that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.38%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, November 14th. Zions Bancorporation’s dividend payout ratio (DPR) is 23.97%.
Several research analysts have recently weighed in on ZION shares. FIG Partners reaffirmed an “outperform” rating and set a $54.00 target price (up from $50.00) on shares of Zions Bancorporation in a research note on Wednesday, July 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $47.00 target price on shares of Zions Bancorporation in a research note on Thursday, July 27th. Robert W. Baird downgraded Zions Bancorporation from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $46.12 to $43.00 in a research note on Monday, August 7th. Wells Fargo & Company started coverage on Zions Bancorporation in a research note on Wednesday, August 9th. They set an “outperform” rating and a $56.00 target price for the company. Finally, Bank of America Corporation raised Zions Bancorporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $52.00 in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $48.50.
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In other news, Director Roger B. Porter bought 1,616 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $43.99 per share, for a total transaction of $71,087.84. Following the acquisition, the director now directly owns 42,001 shares of the company’s stock, valued at approximately $1,847,623.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.46% of the company’s stock.
Zions Bancorporation Profile
Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.
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