2,007 Shares in Zions Bancorporation (ZION) Purchased by Centaurus Financial Inc.
Centaurus Financial Inc. acquired a new stake in shares of Zions Bancorporation (NASDAQ:ZION) during the first quarter, Holdings Channel reports. The firm acquired 2,007 shares of the bank’s stock, valued at approximately $106,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZION. Bank of Montreal Can boosted its holdings in Zions Bancorporation by 17.0% during the fourth quarter. Bank of Montreal Can now owns 204,779 shares of the bank’s stock valued at $10,409,000 after purchasing an additional 29,827 shares in the last quarter. RNC Capital Management LLC bought a new position in shares of Zions Bancorporation in the fourth quarter valued at approximately $203,000. HWG Holdings LP bought a new position in shares of Zions Bancorporation in the fourth quarter valued at approximately $1,656,000. Schwab Charles Investment Management Inc. raised its stake in shares of Zions Bancorporation by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,142,153 shares of the bank’s stock valued at $58,056,000 after acquiring an additional 43,021 shares during the last quarter. Finally, Westpac Banking Corp raised its stake in shares of Zions Bancorporation by 28.2% in the fourth quarter. Westpac Banking Corp now owns 63,167 shares of the bank’s stock valued at $3,211,000 after acquiring an additional 13,900 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on ZION. Wedbush began coverage on shares of Zions Bancorporation in a research note on Monday. They issued a “neutral” rating and a $62.00 target price for the company. Susquehanna Bancshares set a $54.00 target price on shares of Zions Bancorporation and gave the company a “hold” rating in a research note on Monday, April 23rd. BidaskClub upgraded shares of Zions Bancorporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 27th. Piper Jaffray reiterated a “hold” rating on shares of Zions Bancorporation in a research note on Tuesday, April 24th. Finally, BMO Capital Markets cut their target price on shares of Zions Bancorporation from $60.00 to $57.00 and set a “market perform” rating for the company in a research note on Tuesday, April 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $57.59.
Zions Bancorporation opened at $57.76 on Thursday, MarketBeat reports. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81. Zions Bancorporation has a fifty-two week low of $57.24 and a fifty-two week high of $57.77. The company has a market capitalization of $11.36 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.60 and a beta of 1.39.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 23rd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.27. The firm had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $666.12 million. Zions Bancorporation had a net margin of 24.49% and a return on equity of 10.41%. During the same quarter in the previous year, the company posted $0.61 EPS. sell-side analysts forecast that Zions Bancorporation will post 3.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 17th will be given a dividend of $0.24 per share. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.66%. Zions Bancorporation’s payout ratio is presently 27.97%.
Zions Bancorporation 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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