Metropolitan Life Insurance Co. NY reduced its holdings in Zions Bancorporation NA (NASDAQ:ZION) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,857 shares of the bank’s stock after selling 431 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Zions Bancorporation NA were worth $1,135,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smith Asset Management Group LP bought a new stake in shares of Zions Bancorporation NA in the 4th quarter worth approximately $27,000. Doyle Wealth Management acquired a new position in Zions Bancorporation NA in the 4th quarter valued at approximately $33,000. JOYN Advisors Inc. increased its stake in Zions Bancorporation NA by 2,100.0% in the 4th quarter. JOYN Advisors Inc. now owns 836 shares of the bank’s stock valued at $34,000 after buying an additional 798 shares during the period. Pearl River Capital LLC acquired a new position in Zions Bancorporation NA in the 4th quarter valued at approximately $61,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Zions Bancorporation NA by 81.3% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,664 shares of the bank’s stock valued at $68,000 after buying an additional 746 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.
ZION has been the topic of several research reports. Vining Sparks reiterated a “buy” rating and issued a $63.00 price objective on shares of Zions Bancorporation NA in a research note on Thursday, January 24th. BidaskClub upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. ValuEngine upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research reissued a “hold” rating and issued a $43.00 target price on shares of Zions Bancorporation NA in a research report on Monday, December 31st. Finally, Wedbush boosted their target price on shares of Zions Bancorporation NA from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $55.18.
Zions Bancorporation NA (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, January 22nd. The bank reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. Zions Bancorporation NA had a net margin of 29.14% and a return on equity of 12.57%. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $712.48 million. During the same quarter in the prior year, the company posted $0.80 EPS. On average, sell-side analysts predict that Zions Bancorporation NA will post 4.44 earnings per share for the current year.
In related news, General Counsel Thomas E. Laursen sold 1,237 shares of the stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $48.47, for a total transaction of $59,957.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Terry Alan Shirey sold 493 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $50.80, for a total transaction of $25,044.40. The disclosure for this sale can be found here. Insiders have sold a total of 31,225 shares of company stock valued at $1,537,180 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
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Zions Bancorporation NA Company 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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