Renaissance Technologies LLC Grows Holdings in Zions Bancorporation NA (NASDAQ:ZION)

Renaissance Technologies LLC raised its position in Zions Bancorporation NA (NASDAQ:ZION) by 52.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,145,579 shares of the bank’s stock after purchasing an additional 393,100 shares during the period. Renaissance Technologies LLC’s holdings in Zions Bancorporation NA were worth $52,674,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ZION. Steward Partners Investment Advisory LLC acquired a new position in shares of Zions Bancorporation NA in the second quarter valued at approximately $35,000. Amica Retiree Medical Trust purchased a new stake in Zions Bancorporation NA in the 2nd quarter worth approximately $39,000. Valeo Financial Advisors LLC raised its holdings in Zions Bancorporation NA by 48.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock valued at $41,000 after acquiring an additional 295 shares during the last quarter. Huntington National Bank raised its holdings in Zions Bancorporation NA by 177.2% in the 2nd quarter. Huntington National Bank now owns 1,486 shares of the bank’s stock valued at $68,000 after acquiring an additional 950 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of Zions Bancorporation NA by 200.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 1,500 shares of the bank’s stock worth $68,000 after purchasing an additional 1,000 shares during the period. 97.01% of the stock is currently owned by institutional investors.

ZION stock traded up $0.17 during midday trading on Wednesday, hitting $43.83. 128,636 shares of the company’s stock were exchanged, compared to its average volume of 2,267,126. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Zions Bancorporation NA has a 12-month low of $38.08 and a 12-month high of $53.52. The firm has a 50 day moving average price of $41.65 and a 200-day moving average price of $45.47. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 1.25 and a beta of 1.53.

Zions Bancorporation NA (NASDAQ:ZION) last released its earnings results on Monday, July 22nd. The bank reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.10). Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. The business had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $723.21 million. During the same quarter last year, the company posted $0.89 earnings per share. On average, sell-side analysts forecast that Zions Bancorporation NA will post 4.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.10%. This is an increase from Zions Bancorporation NA’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, August 14th. Zions Bancorporation NA’s dividend payout ratio is 33.33%.

Several equities research analysts have recently issued reports on ZION shares. Keefe, Bruyette & Woods cut Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $53.00 to $47.00 in a report on Tuesday, July 23rd. Wells Fargo & Co restated a “hold” rating on shares of Zions Bancorporation NA in a report on Friday, August 16th. SunTrust Banks lowered their price objective on shares of Zions Bancorporation NA to $52.00 and set a “reduce” rating for the company in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Bank of America upped their price objective on Zions Bancorporation NA from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Piper Jaffray Companies cut their target price on Zions Bancorporation NA from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.13.

In other Zions Bancorporation NA news, insider A Scott Anderson sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $44.92, for a total transaction of $449,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander Hume sold 9,929 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $45.17, for a total value of $448,492.93. The disclosure for this sale can be found here. Insiders have sold a total of 20,886 shares of company stock worth $936,691 over the last quarter. 1.70% of the stock is currently owned by insiders.

Zions Bancorporation NA Profile

Zions Bancorporation, National Association provides various 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; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

Further Reading: Options Trading

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Institutional Ownership by Quarter for Zions Bancorporation NA (NASDAQ:ZION)

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