Westwood Holdings Group Inc. lowered its stake in Zions Bancorp (NASDAQ:ZION) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,295,975 shares of the bank’s stock after selling 64,694 shares during the period. Westwood Holdings Group Inc. owned approximately 0.66% of Zions Bancorp worth $65,874,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in ZION. Principal Financial Group Inc. increased its holdings in shares of Zions Bancorp by 33.0% in the third quarter. Principal Financial Group Inc. now owns 424,696 shares of the bank’s stock valued at $20,037,000 after purchasing an additional 105,440 shares during the period. Alps Advisors Inc. acquired a new position in shares of Zions Bancorp in the third quarter valued at approximately $512,000. BNP Paribas Arbitrage SA increased its holdings in shares of Zions Bancorp by 64.7% in the third quarter. BNP Paribas Arbitrage SA now owns 143,294 shares of the bank’s stock valued at $6,761,000 after purchasing an additional 56,278 shares during the period. Toronto Dominion Bank increased its holdings in shares of Zions Bancorp by 11.8% in the third quarter. Toronto Dominion Bank now owns 76,709 shares of the bank’s stock valued at $3,619,000 after purchasing an additional 8,070 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Zions Bancorp by 0.8% in the third quarter. Rhumbline Advisers now owns 360,111 shares of the bank’s stock valued at $16,990,000 after purchasing an additional 2,732 shares during the period. 94.63% of the stock is currently owned by institutional investors and hedge funds.
Zions Bancorp (ZION) opened at $55.52 on Friday. Zions Bancorp has a twelve month low of $38.43 and a twelve month high of $57.29. The firm has a market capitalization of $10,759.16, a price-to-earnings ratio of 19.14, a P/E/G ratio of 1.61 and a beta of 1.37. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were issued a $0.20 dividend. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, February 14th. This represents a $0.80 annualized dividend and a yield of 1.44%. Zions Bancorp’s dividend payout ratio is 30.77%.
A number of research analysts have recently issued reports on the company. BidaskClub raised Zions Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Raymond James Financial raised Zions Bancorp from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a report on Thursday. They noted that the move was a valuation call. B. Riley reissued a “buy” rating and issued a $60.00 target price on shares of Zions Bancorp in a report on Tuesday, January 23rd. DA Davidson reissued a “buy” rating and issued a $62.00 target price on shares of Zions Bancorp in a report on Tuesday, January 23rd. Finally, Zacks Investment Research lowered Zions Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. Zions Bancorp presently has a consensus rating of “Buy” and a consensus target price of $56.15.
In other Zions Bancorp news, President Scott J. Mclean sold 31,309 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $56.15, for a total value of $1,758,000.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Thomas E. Laursen sold 1,250 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $54.28, for a total value of $67,850.00. The disclosure for this sale can be found here. Insiders sold 57,224 shares of company stock worth $3,156,817 in the last three months. 1.46% of the stock is owned by corporate insiders.
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Zions Bancorp 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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