Zions Bancorporation (NASDAQ:ZION) General Counsel Thomas E. Laursen sold 1,600 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $46.55, for a total transaction of $74,480.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Zions Bancorporation (NASDAQ ZION) traded down $0.96 during trading hours on Thursday, hitting $49.92. The stock had a trading volume of 3,233,700 shares, compared to its average volume of 2,526,540. Zions Bancorporation has a 12 month low of $38.43 and a 12 month high of $52.20. The company has a market capitalization of $10,162.96, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80.
Zions Bancorporation (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $666.83 million. During the same period in the prior year, the company posted $0.57 earnings per share. equities analysts expect that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th were given a $0.16 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s dividend payout ratio (DPR) is currently 24.06%.
Several analysts have recently issued reports on ZION shares. BidaskClub raised shares of Zions Bancorporation from a “hold” rating to a “buy” rating in a research report on Wednesday. Jefferies Group reaffirmed a “buy” rating and issued a $54.00 target price on shares of Zions Bancorporation in a report on Thursday, October 12th. Robert W. Baird cut shares of Zions Bancorporation from a “neutral” rating to an “underperform” rating and set a $43.00 target price on the stock. in a report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 price target on shares of Zions Bancorporation in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research lowered shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $49.84.
A number of hedge funds have recently added to or reduced their stakes in ZION. Balyasny Asset Management LLC lifted its holdings in Zions Bancorporation by 705.8% during the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock worth $139,918,000 after acquiring an additional 2,791,044 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Zions Bancorporation by 146.8% in the third quarter. Ameriprise Financial Inc. now owns 2,698,958 shares of the bank’s stock valued at $127,330,000 after purchasing an additional 1,605,540 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Zions Bancorporation by 332.1% in the third quarter. Artemis Investment Management LLP now owns 1,751,662 shares of the bank’s stock valued at $82,635,000 after purchasing an additional 1,346,240 shares in the last quarter. Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of Zions Bancorporation by 276.0% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock valued at $80,080,000 after purchasing an additional 1,338,748 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Zions Bancorporation by 16,303.3% during the second quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock worth $54,056,000 after acquiring an additional 1,223,566 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.
About Zions Bancorporation
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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