FIL Ltd Takes Position in Zions Bancorporation NA (NASDAQ:ZION)

FIL Ltd purchased a new stake in shares of Zions Bancorporation NA (NASDAQ:ZION) during the first quarter, HoldingsChannel.com reports. The firm purchased 210,175 shares of the bank’s stock, valued at approximately $9,544,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Interstate Bank bought a new position in shares of Zions Bancorporation NA in the first quarter worth approximately $27,000. Buffington Mohr McNeal bought a new position in shares of Zions Bancorporation NA in the first quarter worth approximately $30,000. Smith Asset Management Group LP bought a new position in shares of Zions Bancorporation NA in the fourth quarter worth approximately $27,000. CSat Investment Advisory L.P. grew its holdings in shares of Zions Bancorporation NA by 97.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock worth $31,000 after purchasing an additional 373 shares during the last quarter. Finally, Pinnacle Bank bought a new position in shares of Zions Bancorporation NA in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 95.17% of the company’s stock.

Shares of ZION stock opened at $44.17 on Thursday. Zions Bancorporation NA has a 52 week low of $38.08 and a 52 week high of $57.25. The firm has a market capitalization of $8.06 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.10 and a beta of 1.53. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.17.

Zions Bancorporation NA (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). Zions Bancorporation NA had a return on equity of 12.24% and a net margin of 27.58%. The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $715.64 million. During the same period in the previous year, the business earned $1.09 EPS. Sell-side analysts anticipate that Zions Bancorporation NA will post 4.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Wednesday, May 15th. Zions Bancorporation NA’s payout ratio is 29.41%.

Several research analysts have recently issued reports on ZION shares. ValuEngine cut shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. cut shares of Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $53.00 to $50.00 in a report on Thursday, April 4th. Finally, BidaskClub cut shares of Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $54.87.

In other Zions Bancorporation NA news, insider A Scott Anderson sold 10,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Keith D. Maio sold 11,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $48.67, for a total value of $535,370.00. The disclosure for this sale can be found here. Insiders sold 30,100 shares of company stock valued at $1,424,658 in the last ninety days. 1.70% of the stock is currently owned by insiders.

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Zions Bancorporation NA 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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Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zions Bancorporation NA (NASDAQ:ZION).

Institutional Ownership by Quarter for Zions Bancorporation NA (NASDAQ:ZION)

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