Zions Bancorporation (ZION) Position Raised by Cetera Advisor Networks LLC
Cetera Advisor Networks LLC increased its holdings in shares of Zions Bancorporation (NASDAQ:ZION) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,597 shares of the bank’s stock after purchasing an additional 1,423 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Zions Bancorporation were worth $784,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Zions Bancorporation by 4.3% during the second quarter. Vanguard Group Inc. now owns 21,245,566 shares of the bank’s stock worth $932,892,000 after purchasing an additional 882,190 shares during the last quarter. State Street Corp lifted its stake in Zions Bancorporation by 8.7% during the second quarter. State Street Corp now owns 12,373,314 shares of the bank’s stock worth $543,315,000 after purchasing an additional 986,548 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Zions Bancorporation by 2.0% during the second quarter. TIAA CREF Investment Management LLC now owns 3,590,330 shares of the bank’s stock worth $157,651,000 after purchasing an additional 68,904 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Zions Bancorporation by 705.8% during the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock worth $139,918,000 after purchasing an additional 2,791,044 shares during the last quarter. Finally, Cortland Advisers LLC lifted its stake in Zions Bancorporation by 49.6% during the third quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock worth $150,006,000 after purchasing an additional 1,053,900 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.
Several research analysts have commented on the company. BidaskClub raised Zions Bancorporation from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Keefe, Bruyette & Woods raised Zions Bancorporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Jefferies Group reaffirmed a “buy” rating and set a $54.00 price target on shares of Zions Bancorporation in a research report on Thursday, October 12th. Robert W. Baird lowered Zions Bancorporation from a “neutral” rating to an “underperform” rating and set a $43.00 price target on the stock. in a research report on Monday, October 2nd. Finally, Zacks Investment Research lowered Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. Zions Bancorporation has an average rating of “Buy” and an average target price of $49.84.
Zions Bancorporation (ZION) opened at $49.22 on Friday. The stock has a market capitalization of $10,079.07, a P/E ratio of 18.97, a PEG ratio of 1.95 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a twelve month low of $38.43 and a twelve month high of $52.20.
Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $666.83 million. Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. During the same period in the previous year, the firm posted $0.57 EPS. sell-side analysts forecast that Zions Bancorporation will post 2.8 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 15th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.30%. This is a positive change from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s payout ratio is presently 24.06%.
In other news, General Counsel Thomas E. Laursen sold 1,600 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $46.55, for a total value of $74,480.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce K. Alexander sold 6,089 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total value of $292,089.33. The disclosure for this sale can be found here. In the last three months, insiders sold 43,979 shares of company stock worth $2,057,927. Corporate insiders own 1.46% of the company’s stock.
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Zions Bancorporation 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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