Schwab Charles Investment Management Inc. increased its stake in Zions Bancorporation (NASDAQ:ZION) by 0.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,009,389 shares of the bank’s stock after buying an additional 2,154 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Zions Bancorporation were worth $42,395,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mason Street Advisors LLC boosted its position in Zions Bancorporation by 0.4% in the first quarter. Mason Street Advisors LLC now owns 27,973 shares of the bank’s stock valued at $1,175,000 after buying an additional 105 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in Zions Bancorporation by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,494 shares of the bank’s stock valued at $194,000 after buying an additional 124 shares during the period. Breton Hill Capital Ltd. boosted its position in Zions Bancorporation by 0.6% in the first quarter. Breton Hill Capital Ltd. now owns 24,182 shares of the bank’s stock valued at $1,016,000 after buying an additional 155 shares during the period. Advantus Capital Management Inc boosted its position in Zions Bancorporation by 0.9% in the first quarter. Advantus Capital Management Inc now owns 20,313 shares of the bank’s stock valued at $853,000 after buying an additional 183 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in Zions Bancorporation by 2.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 7,700 shares of the bank’s stock valued at $323,000 after buying an additional 195 shares during the period. Institutional investors own 95.43% of the company’s stock.
Zions Bancorporation (NASDAQ:ZION) traded down 0.83% during mid-day trading on Thursday, hitting $42.87. The stock had a trading volume of 1,873,836 shares. Zions Bancorporation has a 12 month low of $23.02 and a 12 month high of $48.33. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 19.30 and a beta of 1.43. The stock’s 50-day moving average price is $40.75 and its 200-day moving average price is $42.22.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 24th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. Zions Bancorporation had a return on equity of 7.44% and a net margin of 20.50%. The company had revenue of $621 million during the quarter, compared to analysts’ expectations of $619.90 million. During the same quarter in the previous year, the business earned $0.38 EPS. On average, analysts predict that Zions Bancorporation will post $2.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Investors of record on Thursday, May 18th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, May 16th. Zions Bancorporation’s payout ratio is currently 14.41%.
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Several research firms recently weighed in on ZION. Barclays PLC upped their price objective on shares of Zions Bancorporation from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 25th. BidaskClub upgraded shares of Zions Bancorporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley restated an “equal weight” rating and issued a $45.00 price objective (up from $43.00) on shares of Zions Bancorporation in a research report on Monday, June 5th. Piper Jaffray Companies decreased their price objective on shares of Zions Bancorporation from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 11th. Finally, Compass Point upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $42.81.
In related news, insider David E. Blackford sold 2,090 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $39.61, for a total transaction of $82,784.90. Following the completion of the transaction, the insider now owns 23,578 shares in the company, valued at approximately $933,924.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leeanne B. Linderman sold 29,078 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $41.00, for a total value of $1,192,198.00. Following the transaction, the insider now owns 15,746 shares of the company’s stock, valued at approximately $645,586. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,184 shares of company stock valued at $1,880,815. 1.46% of the stock is owned by company insiders.
Zions Bancorporation Company 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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