Zions Bancorporation NA (ZION) Shares Sold by Standard Life Aberdeen plc
Standard Life Aberdeen plc decreased its holdings in shares of Zions Bancorporation NA (NASDAQ:ZION) by 58.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 50,596 shares of the bank’s stock after selling 72,569 shares during the period. Standard Life Aberdeen plc’s holdings in Zions Bancorporation NA were worth $2,047,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ZION. Mn Services Vermogensbeheer B.V. lifted its holdings in Zions Bancorporation NA by 4.4% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 32,963 shares of the bank’s stock valued at $1,175,000 after acquiring an additional 1,400 shares during the period. State of Tennessee Treasury Department lifted its holdings in Zions Bancorporation NA by 14.8% in the fourth quarter. State of Tennessee Treasury Department now owns 49,804 shares of the bank’s stock valued at $2,029,000 after acquiring an additional 6,408 shares during the period. Advisor Group Inc. lifted its holdings in Zions Bancorporation NA by 15.9% in the fourth quarter. Advisor Group Inc. now owns 4,213 shares of the bank’s stock valued at $172,000 after acquiring an additional 578 shares during the period. AlphaCrest Capital Management LLC acquired a new position in Zions Bancorporation NA in the fourth quarter valued at approximately $717,000. Finally, Bank of Nova Scotia lifted its holdings in Zions Bancorporation NA by 20.6% in the fourth quarter. Bank of Nova Scotia now owns 128,490 shares of the bank’s stock valued at $5,233,000 after acquiring an additional 21,964 shares during the period. Institutional investors and hedge funds own 90.80% of the company’s stock.
In related news, insider Steven Dan Stephens sold 8,000 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $48.20, for a total value of $385,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Anne Smith sold 7,746 shares of the stock in a transaction on Monday, January 28th. The shares were sold at an average price of $48.28, for a total value of $373,976.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,225 shares of company stock valued at $1,537,180. 1.60% of the stock is owned by corporate insiders.
Zions Bancorporation NA (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 22nd. The bank reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. Zions Bancorporation NA had a return on equity of 12.57% and a net margin of 29.14%. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $712.48 million. During the same period in the prior year, the company earned $0.80 EPS. On average, sell-side analysts forecast that Zions Bancorporation NA will post 4.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 21st. Investors of record on Thursday, February 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, February 13th. Zions Bancorporation NA’s dividend payout ratio is currently 29.41%.
ZION has been the subject of a number of analyst reports. BidaskClub raised Zions Bancorporation NA from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 16th. Argus initiated coverage on Zions Bancorporation NA in a report on Monday, December 17th. They issued a “buy” rating and a $51.00 price target for the company. Zacks Investment Research reissued a “hold” rating and issued a $43.00 price target on shares of Zions Bancorporation NA in a report on Monday, December 31st. Wedbush boosted their price target on Zions Bancorporation NA from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 23rd. Finally, Vining Sparks reissued a “buy” rating and issued a $63.00 price target on shares of Zions Bancorporation NA in a report on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Zions Bancorporation NA currently has a consensus rating of “Hold” and a consensus price target of $56.18.
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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.
See Also: Insider Trading
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