Nationwide Fund Advisors grew its holdings in shares of Zions Bancorporation (NASDAQ:ZION) by 63.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,012 shares of the bank’s stock after purchasing an additional 56,116 shares during the quarter. Nationwide Fund Advisors owned approximately 0.07% of Zions Bancorporation worth $6,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. King Luther Capital Management Corp lifted its stake in shares of Zions Bancorporation by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 1,387,660 shares of the bank’s stock worth $60,932,000 after purchasing an additional 18,113 shares during the period. Standard Life Investments LTD boosted its holdings in shares of Zions Bancorporation by 1.1% in the second quarter. Standard Life Investments LTD now owns 1,931,672 shares of the bank’s stock worth $84,810,000 after buying an additional 20,462 shares during the last quarter. Norinchukin Bank The boosted its holdings in shares of Zions Bancorporation by 12.5% in the second quarter. Norinchukin Bank The now owns 8,001 shares of the bank’s stock worth $351,000 after buying an additional 886 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Zions Bancorporation by 2.0% in the second quarter. TIAA CREF Investment Management LLC now owns 3,590,330 shares of the bank’s stock worth $157,651,000 after buying an additional 68,904 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Zions Bancorporation by 87.9% in the second quarter. Riverhead Capital Management LLC now owns 54,167 shares of the bank’s stock worth $2,378,000 after buying an additional 25,347 shares during the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation (NASDAQ ZION) opened at 47.28 on Tuesday. Zions Bancorporation has a 12-month low of $30.07 and a 12-month high of $48.33. The firm’s 50 day moving average is $44.28 and its 200 day moving average is $42.77. The company has a market cap of $9.56 billion, a P/E ratio of 18.82 and a beta of 1.44.

Zions Bancorporation (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.11. The firm had revenue of $660.00 million during the quarter, compared to the consensus estimate of $640.34 million. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. During the same quarter in the prior year, the firm earned $0.44 EPS. Equities research analysts anticipate that Zions Bancorporation will post $2.82 EPS for the current fiscal year.

Zions Bancorporation announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to repurchase $465.00 million in shares. This repurchase authorization allows the bank to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/nationwide-fund-advisors-grows-stake-in-zions-bancorporation-zion/1604711.html.

In other Zions Bancorporation news, insider Edward Schreiber sold 13,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $44.98, for a total value of $584,740.00. Following the transaction, the insider now owns 51,517 shares in the company, valued at approximately $2,317,234.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David E. Blackford sold 9,533 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $44.94, for a total value of $428,413.02. Following the completion of the transaction, the insider now owns 22,997 shares in the company, valued at approximately $1,033,485.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,118 shares of company stock worth $1,222,407. 1.46% of the stock is currently owned by insiders.

Several brokerages recently issued reports on ZION. Keefe, Bruyette & Woods restated a “hold” rating and set a $46.00 target price on shares of Zions Bancorporation in a research report on Friday, July 14th. BidaskClub cut shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Bank of America Corporation upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $50.00 to $52.00 in a research report on Wednesday, August 16th. Robert W. Baird downgraded shares of Zions Bancorporation from a “neutral” rating to an “underperform” rating and set a $43.00 price target on the stock. in a research report on Monday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $45.00 price target (up previously from $43.00) on shares of Zions Bancorporation in a research note on Monday, June 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $46.48.

Zions Bancorporation Company Profile

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.

Institutional Ownership by Quarter for Zions Bancorporation (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation and related companies with Analyst Ratings Network's FREE daily email newsletter.