Bp Plc maintained its position in Zions Bancorporation (NASDAQ:ZION) during the fourth quarter, Holdings Channel reports. The fund owned 25,000 shares of the company’s stock at the end of the fourth quarter. Bp Plc’s holdings in Zions Bancorporation were worth $1,076,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new position in Zions Bancorporation during the third quarter worth approximately $131,000. Jacobus Wealth Management Inc. increased its stake in Zions Bancorporation by 12.2% in the third quarter. Jacobus Wealth Management Inc. now owns 4,600 shares of the company’s stock worth $143,000 after buying an additional 500 shares in the last quarter. SRB Corp purchased a new stake in Zions Bancorporation during the third quarter worth $173,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Zions Bancorporation by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,293 shares of the company’s stock worth $195,000 after buying an additional 748 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Zions Bancorporation during the second quarter worth $208,000. 90.63% of the stock is owned by hedge funds and other institutional investors.
Zions Bancorporation (NASDAQ:ZION) opened at 45.08 on Wednesday. Zions Bancorporation has a 12 month low of $20.08 and a 12 month high of $45.21. The stock’s 50 day moving average price is $43.04 and its 200-day moving average price is $35.86. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 22.65 and a beta of 1.47.
Zions Bancorporation (NASDAQ:ZION) last announced its quarterly earnings data on Monday, January 23rd. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.08. Zions Bancorporation had a return on equity of 6.80% and a net margin of 18.99%. During the same quarter in the previous year, the business posted $0.43 EPS. Equities analysts anticipate that Zions Bancorporation will post $2.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 23rd. Investors of record on Thursday, February 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.71%. Zions Bancorporation’s payout ratio is 16.08%.
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A number of research firms have recently weighed in on ZION. Zacks Investment Research raised Zions Bancorporation from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Thursday, December 1st. RBC Capital Markets reissued a “buy” rating on shares of Zions Bancorporation in a report on Saturday, December 17th. J P Morgan Chase & Co raised Zions Bancorporation from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $34.00 to $50.00 in a report on Thursday, January 5th. Susquehanna Bancshares Inc downgraded Zions Bancorporation from a “positive” rating to a “neutral” rating and lifted their target price for the stock from $36.00 to $39.00 in a report on Thursday, December 1st. They noted that the move was a valuation call. Finally, FBR & Co lifted their target price on Zions Bancorporation from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $40.18.
In related news, insider Bruce K. Alexander sold 18,608 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $38.35, for a total transaction of $713,616.80. Following the transaction, the insider now directly owns 22,403 shares in the company, valued at approximately $859,155.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Shelley Thomas Williams sold 26,127 shares of the firm’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $42.05, for a total value of $1,098,640.35. Following the transaction, the director now owns 25,127 shares in the company, valued at $1,056,590.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,924 shares of company stock worth $4,059,564. 2.06% of the stock is owned by corporate insiders.
Zions Bancorporation Company Profile
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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