TCW Group Inc. lowered its stake in Zions Bancorp (NASDAQ:ZION) by 10.9% in the 4th quarter, HoldingsChannel reports. The fund owned 2,631,560 shares of the bank’s stock after selling 322,008 shares during the quarter. TCW Group Inc.’s holdings in Zions Bancorp were worth $133,762,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in Zions Bancorp in the 4th quarter valued at $102,000. Tower Research Capital LLC TRC grew its position in Zions Bancorp by 1,274.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,562 shares during the period. Steward Partners Investment Advisory LLC grew its position in Zions Bancorp by 2,081.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock valued at $152,000 after purchasing an additional 2,872 shares during the period. Blue Sky Asset Management LLC acquired a new stake in Zions Bancorp in the 4th quarter valued at $157,000. Finally, Virtu Financial LLC acquired a new stake in Zions Bancorp in the 4th quarter valued at $200,000. Institutional investors own 94.01% of the company’s stock.
Zions Bancorp (NASDAQ:ZION) opened at $55.07 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $10,878.09, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.45. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $55.61.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.07. The firm had revenue of $665.00 million for the quarter, compared to the consensus estimate of $670.55 million. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. During the same period in the previous year, the firm earned $0.60 EPS. sell-side analysts anticipate that Zions Bancorp will post 3.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, February 14th. Zions Bancorp’s payout ratio is currently 30.77%.
Several analysts recently issued reports on ZION shares. Zacks Investment Research raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Wednesday, December 27th. Wells Fargo & Co reissued an “outperform” rating and issued a $65.00 price target (up previously from $60.00) on shares of Zions Bancorp in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods raised shares of Zions Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. Barclays lifted their price target on shares of Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, BidaskClub downgraded shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.22.
In related news, insider Dianne R. James sold 1,500 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $54.25, for a total value of $81,375.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph L. Reilly sold 23,271 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total transaction of $1,086,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 58,040 shares of company stock worth $2,806,600 over the last ninety days. Insiders own 1.46% of the company’s stock.
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Zions Bancorp 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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