Geode Capital Management LLC increased its position in shares of Zions Bancorp (NASDAQ:ZION) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,363,675 shares of the bank’s stock after buying an additional 46,142 shares during the period. Geode Capital Management LLC’s holdings in Zions Bancorp were worth $119,910,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Crossmark Global Holdings Inc. acquired a new position in Zions Bancorp during the 3rd quarter valued at $1,015,000. Andra AP fonden raised its stake in Zions Bancorp by 10.1% during the 3rd quarter. Andra AP fonden now owns 45,600 shares of the bank’s stock valued at $2,151,000 after purchasing an additional 4,200 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Zions Bancorp during the 3rd quarter valued at $255,000. State of Tennessee Treasury Department raised its stake in Zions Bancorp by 55.3% during the 3rd quarter. State of Tennessee Treasury Department now owns 225,635 shares of the bank’s stock valued at $10,645,000 after purchasing an additional 80,342 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Zions Bancorp by 33.0% during the 3rd quarter. Principal Financial Group Inc. now owns 424,696 shares of the bank’s stock valued at $20,037,000 after purchasing an additional 105,440 shares during the last quarter. 93.55% of the stock is owned by institutional investors and hedge funds.
ZION has been the subject of several research analyst reports. Wells Fargo & Co reiterated an “outperform” rating and set a $65.00 target price (up from $60.00) on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods upgraded shares of Zions Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 12th. Barclays upped their target price on shares of Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Bank of America set a $60.00 target price on shares of Zions Bancorp and gave the company a “buy” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $55.89.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. The company had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $670.55 million. During the same quarter in the prior year, the company posted $0.60 EPS. sell-side analysts forecast that Zions Bancorp will post 3.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th were paid a $0.20 dividend. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. Zions Bancorp’s dividend payout ratio is currently 28.17%.
In related news, insider Steven Dan Stephens sold 7,100 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $54.87, for a total transaction of $389,577.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Thomas E. Laursen sold 1,250 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total transaction of $67,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,224 shares of company stock valued at $3,156,817. Corporate insiders own 1.46% of the company’s stock.
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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