LMR Partners LLP Has $743,000 Position in Zions Bancorp (ZION)
LMR Partners LLP increased its position in Zions Bancorp (NASDAQ:ZION) by 139.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,562 shares of the company’s stock after buying an additional 17,223 shares during the period. LMR Partners LLP’s holdings in Zions Bancorp were worth $743,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Standard Life Investments LTD raised its position in shares of Zions Bancorp by 1.1% in the second quarter. Standard Life Investments LTD now owns 1,729,902 shares of the company’s stock worth $43,464,000 after buying an additional 18,469 shares during the last quarter. Monarch Partners Asset Management LLC bought a new position in shares of Zions Bancorp during the second quarter worth $9,951,000. Deprince Race & Zollo Inc. raised its position in shares of Zions Bancorp by 33.3% in the second quarter. Deprince Race & Zollo Inc. now owns 16,000 shares of the company’s stock worth $402,000 after buying an additional 4,000 shares during the last quarter. Artemis Investment Management LLP raised its position in shares of Zions Bancorp by 772.6% in the second quarter. Artemis Investment Management LLP now owns 4,122,053 shares of the company’s stock worth $103,567,000 after buying an additional 3,649,671 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Zions Bancorp during the second quarter worth $4,466,000. 87.36% of the stock is owned by hedge funds and other institutional investors.
Zions Bancorp (NASDAQ:ZION) traded up 0.25% during mid-day trading on Monday, hitting $31.81. 1,880,527 shares of the company’s stock were exchanged. The stock has a market cap of $6.52 billion, a PE ratio of 19.17 and a beta of 1.54. Zions Bancorp has a 12 month low of $19.65 and a 12 month high of $32.15. The stock’s 50 day moving average price is $30.39 and its 200-day moving average price is $27.48.
Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Zions Bancorp had a net margin of 16.37% and a return on equity of 5.62%. During the same period in the prior year, the firm posted $0.41 earnings per share. Equities analysts expect that Zions Bancorp will post $1.85 EPS for the current fiscal year.
Several brokerages have commented on ZION. JPMorgan Chase & Co. reissued a “hold” rating on shares of Zions Bancorp in a research report on Saturday, July 9th. Piper Jaffray Cos. cut shares of Zions Bancorp from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $30.00 to $32.00 in a research report on Monday. Royal Bank Of Canada reissued a “buy” rating and set a $32.00 price target on shares of Zions Bancorp in a research report on Thursday, June 16th. Deutsche Bank AG reissued a “hold” rating and set a $30.00 price target on shares of Zions Bancorp in a research report on Monday, June 27th. Finally, Vetr raised shares of Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 price target on the stock in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Zions Bancorp presently has an average rating of “Hold” and an average target price of $32.10.
In related news, insider David E. Blackford sold 1,620 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $27.81, for a total value of $45,052.20. Following the completion of the transaction, the insider now directly owns 29,429 shares of the company’s stock, valued at approximately $818,420.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Richard Young sold 65,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the completion of the transaction, the insider now directly owns 56,245 shares of the company’s stock, valued at $1,165,396.40. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by corporate insiders.
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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