DekaBank Deutsche Girozentrale Purchases 2,984 Shares of Zions Bancorp (ZION)
DekaBank Deutsche Girozentrale grew its position in shares of Zions Bancorp (NASDAQ:ZION) by 21.9% during the 3rd quarter, Holdings Channel reports. The firm owned 16,596 shares of the bank’s stock after acquiring an additional 2,984 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Zions Bancorp were worth $933,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Strs Ohio lifted its stake in shares of Zions Bancorp by 121.3% in the 2nd quarter. Strs Ohio now owns 48,783 shares of the bank’s stock valued at $2,570,000 after purchasing an additional 26,735 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of Zions Bancorp by 190.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 144,345 shares of the bank’s stock valued at $7,605,000 after purchasing an additional 94,667 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Zions Bancorp by 1.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 137,781 shares of the bank’s stock valued at $7,261,000 after purchasing an additional 1,595 shares during the period. HWG Holdings LP lifted its stake in shares of Zions Bancorp by 9.0% in the 2nd quarter. HWG Holdings LP now owns 47,909 shares of the bank’s stock valued at $2,524,000 after purchasing an additional 3,966 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Zions Bancorp by 101.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 39,525 shares of the bank’s stock valued at $2,083,000 after purchasing an additional 19,928 shares during the period. Institutional investors own 94.40% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, October 24th. ValuEngine cut Zions Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub cut Zions Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 20th. Piper Jaffray Companies upgraded Zions Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a research note on Tuesday, November 6th. Finally, SunTrust Banks raised their target price on Zions Bancorp to $52.00 and gave the company a “buy” rating in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $58.57.
ZION stock opened at $45.89 on Friday. Zions Bancorp has a twelve month low of $44.55 and a twelve month high of $59.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $8.82 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.33 and a beta of 1.37.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.08. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. The company had revenue of $701.00 million during the quarter, compared to analyst estimates of $699.87 million. During the same quarter last year, the company earned $0.72 EPS. Equities research analysts forecast that Zions Bancorp will post 4.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, November 13th. Zions Bancorp’s payout ratio is 41.96%.
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Zions Bancorp 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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