Private Capital Group LLC grew its stake in shares of Zions Bancorporation NA (NASDAQ:ZION) by 325.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,167 shares of the bank’s stock after acquiring an additional 893 shares during the quarter. Private Capital Group LLC’s holdings in Zions Bancorporation NA were worth $53,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in ZION. Millennium Management LLC boosted its holdings in shares of Zions Bancorporation NA by 154.7% in the fourth quarter. Millennium Management LLC now owns 3,913,496 shares of the bank’s stock worth $159,436,000 after buying an additional 2,376,929 shares during the last quarter. Norges Bank purchased a new position in shares of Zions Bancorporation NA in the fourth quarter worth approximately $71,781,000. Thrivent Financial for Lutherans boosted its holdings in shares of Zions Bancorporation NA by 13.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,726,342 shares of the bank’s stock worth $192,552,000 after buying an additional 565,470 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Zions Bancorporation NA in the fourth quarter worth approximately $22,000,000. Finally, Two Sigma Advisers LP boosted its holdings in shares of Zions Bancorporation NA by 183.1% in the fourth quarter. Two Sigma Advisers LP now owns 833,454 shares of the bank’s stock worth $33,955,000 after buying an additional 539,100 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.
ZION has been the topic of a number of research reports. Vining Sparks reissued a “buy” rating and issued a $63.00 price objective on shares of Zions Bancorporation NA in a report on Thursday, January 24th. BidaskClub raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Friday, January 25th. ValuEngine raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Wedbush lifted their price target on shares of Zions Bancorporation NA from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $53.00 to $50.00 in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.87.
Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.01). The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $715.64 million. Zions Bancorporation NA had a net margin of 27.58% and a return on equity of 12.24%. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, analysts anticipate that Zions Bancorporation NA will post 4.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Wednesday, May 15th. Zions Bancorporation NA’s payout ratio is currently 29.41%.
In other news, EVP Keith D. Maio sold 11,000 shares of Zions Bancorporation NA stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $48.67, for a total transaction of $535,370.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bruce K. Alexander sold 5,169 shares of Zions Bancorporation NA stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $50.15, for a total transaction of $259,225.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,242 shares of company stock worth $1,638,616. Company insiders own 1.70% of the company’s stock.
Zions Bancorporation NA 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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