Crossmark Global Holdings Inc. purchased a new position in shares of Zions Bancorporation (NASDAQ:ZION) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,519 shares of the bank’s stock, valued at approximately $1,015,000.
A number of other large investors have also modified their holdings of ZION. Advisors Asset Management Inc. purchased a new stake in shares of Zions Bancorporation during the second quarter worth approximately $108,000. Exane Derivatives purchased a new stake in shares of Zions Bancorporation during the second quarter worth approximately $132,000. Americafirst Capital Management LLC purchased a new stake in shares of Zions Bancorporation during the second quarter worth approximately $175,000. Global X Management Co. LLC increased its stake in shares of Zions Bancorporation by 58.6% during the second quarter. Global X Management Co. LLC now owns 4,792 shares of the bank’s stock worth $210,000 after buying an additional 1,771 shares during the period. Finally, Bray Capital Advisors purchased a new stake in shares of Zions Bancorporation during the second quarter worth approximately $216,000. Institutional investors own 93.15% of the company’s stock.
Shares of Zions Bancorporation (NASDAQ ZION) opened at $46.30 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a fifty-two week low of $37.64 and a fifty-two week high of $48.33. The firm has a market capitalization of $9,250.00, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.79 and a beta of 1.48.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. During the same period in the prior year, the business earned $0.57 earnings per share. analysts anticipate that Zions Bancorporation will post 2.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This is an increase from Zions Bancorporation’s previous quarterly dividend of $0.12. This represents a $0.64 annualized dividend and a dividend yield of 1.38%. Zions Bancorporation’s dividend payout ratio (DPR) is currently 23.97%.
In related news, Director Roger B. Porter purchased 1,616 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $43.99 per share, with a total value of $71,087.84. Following the completion of the acquisition, the director now directly owns 42,001 shares in the company, valued at $1,847,623.99. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.46% of the stock is owned by company insiders.
A number of analysts recently weighed in on the stock. Bank of America Corporation upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $52.00 in a research note on Wednesday, August 16th. Wells Fargo & Company assumed coverage on shares of Zions Bancorporation in a research note on Wednesday, August 9th. They set an “outperform” rating and a $56.00 target price on the stock. Robert W. Baird lowered shares of Zions Bancorporation from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $46.12 to $43.00 in a research note on Monday, August 7th. Keefe, Bruyette & Woods restated a “hold” rating and set a $48.00 target price on shares of Zions Bancorporation in a research note on Tuesday, October 3rd. Finally, Barclays PLC set a $52.00 price target on shares of Zions Bancorporation and gave the company an “overweight” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.50.
Zions Bancorporation 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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