Zions Bancorp (ZION) Shares Bought by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd lifted its holdings in Zions Bancorp (NASDAQ:ZION) by 279.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,817 shares of the bank’s stock after buying an additional 26,387 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Zions Bancorp were worth $1,887,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. First Republic Investment Management Inc. raised its holdings in shares of Zions Bancorp by 9.7% in the 2nd quarter. First Republic Investment Management Inc. now owns 15,176 shares of the bank’s stock worth $799,000 after purchasing an additional 1,338 shares during the period. Raymond James & Associates raised its holdings in shares of Zions Bancorp by 56.1% in the 2nd quarter. Raymond James & Associates now owns 125,225 shares of the bank’s stock worth $6,598,000 after purchasing an additional 45,003 shares during the period. King Luther Capital Management Corp raised its holdings in shares of Zions Bancorp by 6.9% in the 2nd quarter. King Luther Capital Management Corp now owns 1,892,158 shares of the bank’s stock worth $99,698,000 after purchasing an additional 121,722 shares during the period. AMP Capital Investors Ltd raised its holdings in shares of Zions Bancorp by 8.8% in the 2nd quarter. AMP Capital Investors Ltd now owns 186,695 shares of the bank’s stock worth $9,837,000 after purchasing an additional 15,130 shares during the period. Finally, Korea Investment CORP raised its holdings in shares of Zions Bancorp by 49.6% in the 2nd quarter. Korea Investment CORP now owns 159,054 shares of the bank’s stock worth $8,381,000 after purchasing an additional 52,700 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.
ZION has been the topic of a number of research reports. BidaskClub cut shares of Zions Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Morgan Stanley lifted their price target on shares of Zions Bancorp from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 30th. Raymond James raised shares of Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, July 10th. Zacks Investment Research raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, July 16th. Finally, BMO Capital Markets lowered their target price on shares of Zions Bancorp from $55.00 to $53.00 and set a “market perform” rating on the stock in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Zions Bancorp presently has a consensus rating of “Buy” and a consensus target price of $58.90.
Shares of ZION stock opened at $52.76 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. Zions Bancorp has a 1 year low of $41.31 and a 1 year high of $59.19. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.46 and a beta of 1.36.
Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 23rd. The bank reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). The firm had revenue of $686.00 million during the quarter, compared to the consensus estimate of $687.26 million. Zions Bancorp had a return on equity of 10.86% and a net margin of 25.03%. During the same period in the previous year, the company posted $0.73 EPS. sell-side analysts expect that Zions Bancorp will post 3.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Stockholders of record on Thursday, August 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.27%. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.24. Zions Bancorp’s dividend payout ratio is presently 41.96%.
Zions Bancorp Company Profile
Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.
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