Zions Bancorporation (ZION) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank grew its holdings in Zions Bancorporation (NASDAQ:ZION) by 31.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,639 shares of the bank’s stock after purchasing an additional 16,229 shares during the quarter. Toronto Dominion Bank’s holdings in Zions Bancorporation were worth $3,013,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Cadence Capital Management LLC grew its position in shares of Zions Bancorporation by 0.4% in the second quarter. Cadence Capital Management LLC now owns 8,139 shares of the bank’s stock valued at $357,000 after purchasing an additional 34 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Zions Bancorporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,054 shares of the bank’s stock valued at $661,000 after purchasing an additional 39 shares during the last quarter. Contravisory Investment Management Inc. grew its position in shares of Zions Bancorporation by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 5,794 shares of the bank’s stock valued at $254,000 after purchasing an additional 45 shares during the last quarter. Veritable L.P. grew its position in shares of Zions Bancorporation by 0.9% in the second quarter. Veritable L.P. now owns 5,775 shares of the bank’s stock valued at $254,000 after purchasing an additional 50 shares during the last quarter. Finally, OxFORD Asset Management LLP grew its position in shares of Zions Bancorporation by 0.7% in the second quarter. OxFORD Asset Management LLP now owns 19,697 shares of the bank’s stock valued at $865,000 after purchasing an additional 129 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors.

Zions Bancorporation (ZION) opened at 46.76 on Monday. Zions Bancorporation has a 52 week low of $30.85 and a 52 week high of $48.33. The company has a market cap of $9.45 billion, a PE ratio of 18.61 and a beta of 1.44. The firm’s 50-day moving average is $45.36 and its 200-day moving average is $43.28.

Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.11. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. The company had revenue of $660.00 million during the quarter, compared to the consensus estimate of $640.34 million. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, analysts expect that Zions Bancorporation will post $2.81 EPS for the current fiscal year.

Zions Bancorporation announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $465.00 million in shares. This buyback authorization permits the bank to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

ZION has been the topic of several research analyst reports. FIG Partners raised their price target on Zions Bancorporation from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, July 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price target (up from $45.00) on shares of Zions Bancorporation in a research report on Friday, July 7th. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price target on shares of Zions Bancorporation in a research report on Thursday, July 27th. BidaskClub downgraded Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $49.00 price target on shares of Zions Bancorporation in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. Zions Bancorporation has an average rating of “Hold” and a consensus price target of $46.95.

In other news, insider David E. Blackford sold 9,533 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $44.94, for a total transaction of $428,413.02. Following the completion of the sale, the insider now owns 22,997 shares of the company’s stock, valued at approximately $1,033,485.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward Schreiber sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $44.98, for a total transaction of $584,740.00. Following the sale, the insider now directly owns 51,517 shares of the company’s stock, valued at approximately $2,317,234.66. The disclosure for this sale can be found here. In the last ninety day

Several other large investors have also modified their holdings of the company. Cadence Capital Management LLC grew its position in shares of Zions Bancorporation by 0.4% in the second quarter. Cadence Capital Management LLC now owns 8,139 shares of the bank’s stock valued at $357,000 after purchasing an additional 34 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Zions Bancorporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,054 shares of the bank’s stock valued at $661,000 after purchasing an additional 39 shares during the last quarter. Contravisory Investment Management Inc. grew its position in shares of Zions Bancorporation by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 5,794 shares of the bank’s stock valued at $254,000 after purchasing an additional 45 shares during the last quarter. Veritable L.P. grew its position in shares of Zions Bancorporation by 0.9% in the second quarter. Veritable L.P. now owns 5,775 shares of the bank’s stock valued at $254,000 after purchasing an additional 50 shares during the last quarter. Finally, OxFORD Asset Management LLP grew its position in shares of Zions Bancorporation by 0.7% in the second quarter. OxFORD Asset Management LLP now owns 19,697 shares of the bank’s stock valued at $865,000 after purchasing an additional 129 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors.

Zions Bancorporation (ZION) opened at 46.76 on Monday. Zions Bancorporation has a 52 week low of $30.85 and a 52 week high of $48.33. The company has a market cap of $9.45 billion, a PE ratio of 18.61 and a beta of 1.44. The firm’s 50-day moving average is $45.36 and its 200-day moving average is $43.28.

Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.11. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. The company had revenue of $660.00 million during the quarter, compared to the consensus estimate of $640.34 million. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, analysts expect that Zions Bancorporation will post $2.81 EPS for the current fiscal year.

Zions Bancorporation announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $465.00 million in shares. This buyback authorization permits the bank to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

ZION has been the topic of several research analyst reports. FIG Partners raised their price target on Zions Bancorporation from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, July 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price target (up from $45.00) on shares of Zions Bancorporation in a research report on Friday, July 7th. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price target on shares of Zions Bancorporation in a research report on Thursday, July 27th. BidaskClub downgraded Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $49.00 price target on shares of Zions Bancorporation in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. Zions Bancorporation has an average rating of “Hold” and a consensus price target of $46.95.

In other news, insider David E. Blackford sold 9,533 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $44.94, for a total transaction of $428,413.02. Following the completion of the sale, the insider now owns 22,997 shares of the company’s stock, valued at approximately $1,033,485.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward Schreiber sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $44.98, for a total transaction of $584,740.00. Following the sale, the insider now directly owns 51,517 shares of the company’s stock, valued at approximately $2,317,234.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,118 shares of company stock valued at $1,222,407. 1.46% of the stock is currently owned by insiders.

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Zions Bancorporation 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.

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

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