Seizert Capital Partners LLC lowered its position in shares of Zions Bancorp (NASDAQ:ZION) by 27.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 880,300 shares of the bank’s stock after selling 337,172 shares during the quarter. Zions Bancorp makes up approximately 1.7% of Seizert Capital Partners LLC’s holdings, making the stock its 18th biggest holding. Seizert Capital Partners LLC owned approximately 0.45% of Zions Bancorp worth $46,418,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Zions Bancorp by 0.9% during the 1st quarter. BlackRock Inc. now owns 13,536,742 shares of the bank’s stock worth $713,792,000 after purchasing an additional 115,071 shares in the last quarter. American Century Companies Inc. increased its position in shares of Zions Bancorp by 2.2% during the 4th quarter. American Century Companies Inc. now owns 6,301,387 shares of the bank’s stock worth $320,300,000 after purchasing an additional 136,198 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Zions Bancorp by 3.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 4,566,875 shares of the bank’s stock worth $240,811,000 after purchasing an additional 147,789 shares in the last quarter. Thrivent Financial For Lutherans increased its position in shares of Zions Bancorp by 2.0% during the 4th quarter. Thrivent Financial For Lutherans now owns 4,419,086 shares of the bank’s stock worth $224,623,000 after purchasing an additional 87,684 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Zions Bancorp by 1.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,412,016 shares of the bank’s stock worth $173,433,000 after purchasing an additional 59,927 shares in the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.
ZION opened at $58.01 on Thursday. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.61 and a beta of 1.39. Zions Bancorp has a 1-year low of $39.34 and a 1-year high of $59.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 23rd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.27. Zions Bancorp had a return on equity of 10.41% and a net margin of 24.49%. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $666.12 million. During the same period in the prior year, the business posted $0.61 earnings per share. equities research analysts forecast that Zions Bancorp will post 3.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Thursday, May 17th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.65%. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, May 16th. Zions Bancorp’s dividend payout ratio is presently 33.57%.
In other news, insider Bruce K. Alexander sold 3,892 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $56.32, for a total value of $219,197.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,400 shares of the stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $55.17, for a total value of $77,238.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,520 shares of company stock worth $4,534,461. Company insiders own 1.60% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Wedbush assumed coverage on shares of Zions Bancorp in a research report on Monday, May 14th. They set a “neutral” rating and a $62.00 target price for the company. Piper Jaffray Companies reiterated a “hold” rating on shares of Zions Bancorp in a research report on Tuesday, March 6th. B. Riley reiterated a “buy” rating and set a $64.00 target price (up previously from $60.00) on shares of Zions Bancorp in a research report on Tuesday, February 27th. Sandler O’Neill reiterated a “buy” rating and set a $62.00 target price on shares of Zions Bancorp in a research report on Friday, March 9th. Finally, Morgan Stanley increased their target price on shares of Zions Bancorp from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, April 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.59.
About Zions Bancorp
Zions Bancorporation, a financial holding company, provides a range of banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as 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; and residential mortgage servicing and lending.
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