Delek Group Ltd. purchased a new stake in shares of Zions Bancorp (NASDAQ:ZION) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 110,000 shares of the bank’s stock, valued at approximately $5,583,000. Delek Group Ltd. owned approximately 0.06% of Zions Bancorp at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in Zions Bancorp by 4.0% during the 3rd quarter. Wells Fargo & Company MN now owns 2,255,672 shares of the bank’s stock valued at $106,423,000 after buying an additional 87,108 shares in the last quarter. HWG Holdings LP purchased a new position in Zions Bancorp during the 4th quarter valued at approximately $1,656,000. Stansberry Asset Management LLC purchased a new position in Zions Bancorp during the 4th quarter valued at approximately $2,946,000. Financial Counselors Inc. grew its holdings in Zions Bancorp by 9.0% during the 4th quarter. Financial Counselors Inc. now owns 52,305 shares of the bank’s stock valued at $2,659,000 after buying an additional 4,332 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Zions Bancorp by 1.1% during the 4th quarter. Rhumbline Advisers now owns 364,084 shares of the bank’s stock valued at $18,506,000 after buying an additional 3,973 shares in the last quarter. Institutional investors and hedge funds own 94.62% of the company’s stock.
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 stock was sold at an average price of $53.87, for a total transaction of $387,648.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 stock was sold at an average price of $54.28, for a total value of $67,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,224 shares of company stock valued at $3,156,817 over the last three months. 1.46% of the stock is owned by corporate insiders.
Shares of Zions Bancorp stock opened at $55.10 on Thursday. Zions Bancorp has a one year low of $38.43 and a one year high of $57.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $10,806.32, a P/E ratio of 21.19, a P/E/G ratio of 1.61 and a beta of 1.37.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.07. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. The firm had revenue of $665.00 million during the quarter, compared to analyst estimates of $670.55 million. During the same period last year, the company earned $0.60 EPS. analysts anticipate that Zions Bancorp will post 3.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were paid a dividend of $0.20 per share. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Wednesday, February 14th. Zions Bancorp’s dividend payout ratio (DPR) is currently 30.77%.
ZION has been the subject of several research analyst reports. Wells Fargo restated an “outperform” rating and set a $65.00 price target (up previously from $60.00) on shares of Zions Bancorp in a report on Tuesday, January 23rd. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, December 27th. Keefe, Bruyette & Woods upgraded Zions Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. Barclays raised their price target on Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, Bank of America set a $60.00 price objective on Zions Bancorp and gave the company a “buy” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. Zions Bancorp has an average rating of “Buy” and an average price target of $56.15.
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Zions Bancorp 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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