Columbus Circle Investors cut its holdings in Zions Bancorp (NASDAQ:ZION) by 25.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 585,135 shares of the bank’s stock after selling 199,060 shares during the period. Columbus Circle Investors owned approximately 0.30% of Zions Bancorp worth $29,345,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC grew its stake in Zions Bancorp by 126.3% during the first quarter. LPL Financial LLC now owns 25,327 shares of the bank’s stock worth $1,336,000 after buying an additional 14,135 shares in the last quarter. IFM Investors Pty Ltd acquired a new stake in Zions Bancorp during the second quarter worth about $285,000. State of Alaska Department of Revenue grew its stake in Zions Bancorp by 43.6% during the second quarter. State of Alaska Department of Revenue now owns 56,750 shares of the bank’s stock worth $2,988,000 after buying an additional 17,230 shares in the last quarter. Trust Co acquired a new stake in Zions Bancorp during the first quarter worth about $313,000. Finally, Harbour Capital Advisors LLC acquired a new stake in Zions Bancorp during the second quarter worth about $295,000. Institutional investors and hedge funds own 94.73% of the company’s stock.
A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Zions Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Raymond James upgraded shares of Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. Royal Bank of Canada reiterated a “buy” rating and set a $61.00 price objective on shares of Zions Bancorp in a research note on Tuesday, July 24th. Barclays increased their price objective on shares of Zions Bancorp from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Finally, UBS Group downgraded shares of Zions Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, September 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Zions Bancorp has an average rating of “Hold” and a consensus target price of $58.19.
ZION stock opened at $47.04 on Tuesday. The stock has a market capitalization of $9.05 billion, a PE ratio of 16.45, a P/E/G ratio of 1.35 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.82 and a quick ratio of 0.82. Zions Bancorp has a 12 month low of $43.50 and a 12 month high of $59.19.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. The firm had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $699.87 million. Zions Bancorp had a net margin of 26.57% and a return on equity of 11.84%. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, analysts anticipate that Zions Bancorp will post 4.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.55%. Zions Bancorp’s dividend payout ratio (DPR) is currently 41.96%.
Zions Bancorp Company Profile
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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