G&S Capital LLC bought a new position in shares of Zions Bancorp (NASDAQ:ZION) in the fourth quarter, HoldingsChannel reports. The firm bought 2,270 shares of the bank’s stock, valued at approximately $115,000.
Several other institutional investors have also recently bought and sold shares of the company. Advisor Partners LLC lifted its holdings in Zions Bancorp by 15.6% in the fourth quarter. Advisor Partners LLC now owns 7,382 shares of the bank’s stock worth $397,000 after buying an additional 998 shares during the period. Norinchukin Bank The lifted its holdings in Zions Bancorp by 11.3% in the fourth quarter. Norinchukin Bank The now owns 10,014 shares of the bank’s stock worth $509,000 after buying an additional 1,017 shares during the period. Comerica Bank lifted its holdings in Zions Bancorp by 2.3% in the third quarter. Comerica Bank now owns 49,795 shares of the bank’s stock worth $2,330,000 after buying an additional 1,107 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in Zions Bancorp by 3.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 40,775 shares of the bank’s stock worth $2,073,000 after buying an additional 1,169 shares during the period. Finally, ETRADE Capital Management LLC lifted its holdings in Zions Bancorp by 4.9% in the fourth quarter. ETRADE Capital Management LLC now owns 26,560 shares of the bank’s stock worth $1,350,000 after buying an additional 1,248 shares during the period. Institutional investors own 94.63% of the company’s stock.
Several brokerages have commented on ZION. Piper Jaffray Companies restated a “hold” rating on shares of Zions Bancorp in a report on Tuesday, March 6th. B. Riley restated a “buy” rating and issued a $64.00 price objective (up from $60.00) on shares of Zions Bancorp in a report on Tuesday, February 27th. Sandler O’Neill restated a “buy” rating and issued a $62.00 price objective on shares of Zions Bancorp in a report on Friday, March 9th. Barclays raised their price objective on shares of Zions Bancorp from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, March 2nd. Finally, BMO Capital Markets raised their price objective on shares of Zions Bancorp and gave the stock a “market perform” rating in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. Zions Bancorp presently has a consensus rating of “Buy” and a consensus price target of $55.89.
Zions Bancorp (NASDAQ:ZION) opened at $55.75 on Wednesday. Zions Bancorp has a one year low of $38.43 and a one year high of $57.29. The firm has a market cap of $11,118.78, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.07. The business had revenue of $665.00 million during the quarter, compared to the consensus estimate of $670.55 million. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. During the same quarter last year, the firm earned $0.60 earnings per share. equities research analysts expect that Zions Bancorp will post 3.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s dividend payout ratio (DPR) is 30.77%.
In related news, insider Alexander Hume sold 7,196 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $53.87, for a total transaction of $387,648.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Thomas E. Laursen sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were 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. Insiders have sold 57,224 shares of company stock valued at $3,156,817 in the last three months. 1.46% of the stock is owned by insiders.
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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