Verition Fund Management LLC raised its stake in Zions Bancorp (NASDAQ:ZION) by 29.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,700 shares of the bank’s stock after acquiring an additional 4,010 shares during the quarter. Verition Fund Management LLC’s holdings in Zions Bancorp were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Crewe Advisors LLC bought a new position in shares of Zions Bancorp in the 4th quarter valued at about $102,000. Delpha Capital Management LLC bought a new position in shares of Zions Bancorp in the 4th quarter valued at about $107,000. G&S Capital LLC bought a new position in shares of Zions Bancorp in the 4th quarter valued at about $115,000. Tower Research Capital LLC TRC boosted its stake in shares of 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 last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.
Zions Bancorp stock opened at $55.52 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $10,910.47, a P/E ratio of 19.41, a P/E/G ratio of 1.63 and a beta of 1.37. Zions Bancorp has a one year low of $38.43 and a one year high of $57.29.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the 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 last year, the company posted $0.60 EPS. analysts forecast that Zions Bancorp will post 3.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were issued a dividend of $0.20 per share. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 annualized dividend and a yield of 1.44%. The ex-dividend date was Wednesday, February 14th. Zions Bancorp’s dividend payout ratio (DPR) is 30.77%.
ZION has been the topic of several recent research reports. Zacks Investment Research raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $60.00 target price on shares of Zions Bancorp in a research note on Friday, December 22nd. B. Riley reaffirmed a “buy” rating and issued a $60.00 target price on shares of Zions Bancorp in a research note on Tuesday, January 23rd. DA Davidson reaffirmed a “buy” rating and issued a $62.00 target price on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Finally, BidaskClub raised shares of Zions Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $56.15.
In other Zions Bancorp news, insider Alexander Hume sold 7,196 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $53.87, for a total transaction of $387,648.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David E. Blackford sold 4,115 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $51.47, for a total transaction of $211,799.05. The disclosure for this sale can be found here. Insiders have sold a total of 57,224 shares of company stock worth $3,156,817 over the last 90 days. Corporate insiders own 1.46% of the company’s stock.
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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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