Siena Capital Partners GP LLC trimmed its stake in shares of Zions Bancorp (NASDAQ:ZION) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,000 shares of the bank’s stock after selling 7,000 shares during the quarter. Zions Bancorp accounts for 7.3% of Siena Capital Partners GP LLC’s portfolio, making the stock its 4th largest holding. Siena Capital Partners GP LLC owned approximately 0.07% of Zions Bancorp worth $7,015,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its stake in shares of Zions Bancorp by 6.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,074,701 shares of the bank’s stock valued at $47,191,000 after acquiring an additional 65,312 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Zions Bancorp in the 2nd quarter worth approximately $108,000. Federated Investors Inc. PA raised its position in Zions Bancorp by 55.4% in the 2nd quarter. Federated Investors Inc. PA now owns 5,829 shares of the bank’s stock worth $256,000 after purchasing an additional 2,077 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Zions Bancorp by 360.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,205 shares of the bank’s stock worth $1,502,000 after purchasing an additional 26,783 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Zions Bancorp by 1.3% in the 2nd quarter. Principal Financial Group Inc. now owns 319,256 shares of the bank’s stock worth $14,018,000 after purchasing an additional 4,016 shares during the last quarter. 92.54% of the stock is currently owned by institutional investors.
Shares of Zions Bancorp (ZION) traded up $0.76 during mid-day trading on Friday, hitting $53.11. 1,242,800 shares of the stock traded hands, compared to its average volume of 2,012,850. The firm has a market cap of $10,710.00, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a one year low of $38.43 and a one year high of $53.23.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $666.83 million. Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. During the same period in the previous year, the company posted $0.57 earnings per share. sell-side analysts predict that Zions Bancorp will post 2.8 earnings per share for the current year.
In related news, EVP Keith D. Maio sold 13,019 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total value of $604,602.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph L. Reilly sold 23,271 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total transaction of $1,086,755.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,979 shares of company stock valued at $2,057,927. Company insiders own 1.46% of the company’s stock.
Several research firms recently weighed in on ZION. Morgan Stanley restated an “equal weight” rating and issued a $49.00 price objective (up previously from $48.00) on shares of Zions Bancorp in a research report on Wednesday, October 4th. BidaskClub upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Sanford C. Bernstein reiterated a “market perform” rating and set a $51.00 target price on shares of Zions Bancorp in a research report on Saturday, September 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $48.00 target price on shares of Zions Bancorp in a research report on Tuesday, October 3rd. Finally, Royal Bank of Canada upped their target price on shares of Zions Bancorp from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $52.12.
About Zions Bancorp
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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