Zions Bancorp (ZION) Shares Sold by Ameriprise Financial Inc.
Ameriprise Financial Inc. lowered its position in Zions Bancorp (NASDAQ:ZION) by 16.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 641,769 shares of the company’s stock after selling 126,122 shares during the period. Ameriprise Financial Inc. owned approximately 0.31% of Zions Bancorp worth $16,128,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ZION. MAI Capital Management boosted its position in Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock worth $217,000 after buying an additional 27 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Zions Bancorp by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 18,136 shares of the company’s stock worth $456,000 after buying an additional 61 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock worth $121,000 after buying an additional 100 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Zions Bancorp by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 11,289 shares of the company’s stock worth $273,000 after buying an additional 112 shares in the last quarter. Finally, IBM Retirement Fund boosted its position in Zions Bancorp by 0.7% in the second quarter. IBM Retirement Fund now owns 20,336 shares of the company’s stock worth $511,000 after buying an additional 144 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.
Shares of Zions Bancorp (NASDAQ:ZION) traded up 1.22% on Friday, hitting $30.65. The company’s stock had a trading volume of 2,051,919 shares. The company has a 50 day moving average of $29.61 and a 200 day moving average of $26.98. Zions Bancorp has a 1-year low of $19.65 and a 1-year high of $31.28. The firm has a market cap of $6.29 billion, a PE ratio of 18.47 and a beta of 1.64.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. Zions Bancorp had a return on equity of 5.62% and a net margin of 16.37%. During the same quarter in the previous year, the firm earned $0.41 EPS. Equities analysts forecast that Zions Bancorp will post $1.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 18th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Tuesday, August 16th. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.06. Zions Bancorp’s payout ratio is currently 19.28%.
A number of research firms have recently weighed in on ZION. Deutsche Bank AG reiterated a “hold” rating on shares of Zions Bancorp in a report on Saturday, June 4th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Zions Bancorp in a report on Saturday, July 9th. Vetr raised Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 target price on the stock in a research note on Tuesday, August 2nd. Credit Agricole SA increased their target price on Zions Bancorp from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Piper Jaffray Cos. raised Zions Bancorp from a “neutral” rating to an “overweight” rating and set a $29.00 target price on the stock in a research note on Thursday, July 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.75.
In related news, EVP Keith D. Maio sold 9,000 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.97, for a total value of $251,730.00. Following the transaction, the executive vice president now owns 44,072 shares in the company, valued at $1,232,693.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark Richard Young sold 65,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total value of $1,346,800.00. Following the completion of the transaction, the insider now owns 56,245 shares in the company, valued at approximately $1,165,396.40. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
About Zions Bancorp
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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