Dupont Capital Management Corp Invests $255,000 in Zions Bancorporation (ZION) Stock
Dupont Capital Management Corp purchased a new position in Zions Bancorporation (NASDAQ:ZION) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,400 shares of the bank’s stock, valued at approximately $255,000.
Other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in Zions Bancorporation in the 2nd quarter worth approximately $108,000. Exane Derivatives purchased a new position in Zions Bancorporation in the 2nd quarter worth approximately $132,000. Americafirst Capital Management LLC purchased a new position in Zions Bancorporation in the 2nd quarter worth approximately $175,000. Global X Management Co. LLC increased its stake in Zions Bancorporation by 58.6% in the 2nd quarter. Global X Management Co. LLC now owns 4,792 shares of the bank’s stock worth $210,000 after purchasing an additional 1,771 shares during the period. Finally, Conning Inc. purchased a new position in Zions Bancorporation in the 3rd quarter worth approximately $210,000. 95.48% of the stock is currently owned by institutional investors and hedge funds.
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In other Zions Bancorporation news, Director Roger B. Porter purchased 1,616 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of $43.99 per share, with a total value of $71,087.84. Following the completion of the acquisition, the director now directly owns 42,001 shares in the company, valued at approximately $1,847,623.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dianne R. James sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $45.60, for a total value of $91,200.00. Following the transaction, the insider now directly owns 19,866 shares in the company, valued at $905,889.60. The disclosure for this sale can be found here. Insiders own 1.46% of the company’s stock.
Several equities analysts have recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and set a $49.00 target price (up from $48.00) on shares of Zions Bancorporation in a research note on Wednesday, October 4th. BidaskClub cut Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Bank of America Corporation raised Zions Bancorporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $50.00 to $52.00 in a research note on Wednesday, August 16th. Sanford C. Bernstein reissued a “market perform” rating and set a $51.00 target price on shares of Zions Bancorporation in a research note on Saturday, September 16th. Finally, BMO Capital Markets reissued a “hold” rating and set a $47.00 target price on shares of Zions Bancorporation in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $48.50.
Shares of Zions Bancorporation (NASDAQ ZION) opened at $45.43 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a 1-year low of $36.57 and a 1-year high of $48.33. The company has a market capitalization of $8,774.75, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.70 and a beta of 1.48.
Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, October 23rd. The bank reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. The company had revenue of $661.00 million during the quarter, compared to the consensus estimate of $666.83 million. During the same period last year, the firm posted $0.57 earnings per share. sell-side analysts anticipate that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.41%. This is an increase from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, November 14th. Zions Bancorporation’s payout ratio is 18.05%.
About Zions Bancorporation
Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.
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