Zions Bancorporation (ZION) Holdings Reduced by Sarasin & Partners LLP
Sarasin & Partners LLP lowered its position in Zions Bancorporation (NASDAQ:ZION) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,338,643 shares of the bank’s stock after selling 37,798 shares during the quarter. Sarasin & Partners LLP owned approximately 0.67% of Zions Bancorporation worth $63,157,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ZION. Balyasny Asset Management LLC raised its position in shares of Zions Bancorporation by 705.8% in the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock valued at $139,918,000 after purchasing an additional 2,791,044 shares during the period. Ameriprise Financial Inc. raised its position in shares of Zions Bancorporation by 146.8% in the third quarter. Ameriprise Financial Inc. now owns 2,698,958 shares of the bank’s stock valued at $127,330,000 after purchasing an additional 1,605,540 shares during the period. Artemis Investment Management LLP raised its position in shares of Zions Bancorporation by 332.1% in the third quarter. Artemis Investment Management LLP now owns 1,751,662 shares of the bank’s stock valued at $82,635,000 after purchasing an additional 1,346,240 shares during the period. Cramer Rosenthal Mcglynn LLC raised its position in shares of Zions Bancorporation by 276.0% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock valued at $80,080,000 after purchasing an additional 1,338,748 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Zions Bancorporation by 16,303.3% in the second quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock valued at $54,056,000 after purchasing an additional 1,223,566 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.
Zions Bancorporation (NASDAQ ZION) opened at $49.49 on Thursday. 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 $38.23 and a 1-year high of $49.95. The company has a market cap of $9,605.68, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.86 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 consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. The firm had revenue of $661.00 million during the quarter, compared to the consensus estimate of $666.83 million. During the same period in the prior year, the business earned $0.57 earnings per share. equities research analysts predict that Zions Bancorporation will post 2.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th were issued a $0.16 dividend. This is a positive change from Zions Bancorporation’s previous quarterly dividend of $0.12. This represents a $0.64 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, November 14th. Zions Bancorporation’s dividend payout ratio (DPR) is currently 24.06%.
In other Zions Bancorporation news, EVP Keith D. Maio sold 13,019 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total value of $604,602.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bruce K. Alexander sold 6,089 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total transaction of $292,089.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,979 shares of company stock worth $2,057,927. Insiders own 1.46% of the company’s stock.
ZION has been the topic of a number of recent research reports. Jefferies Group reaffirmed a “buy” rating and set a $54.00 price target on shares of Zions Bancorporation in a research report on Thursday, October 12th. Robert W. Baird lowered 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, October 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 price target on shares of Zions Bancorporation in a research report on Tuesday, October 3rd. Zacks Investment Research lowered shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $49.00 price target (up from $48.00) on shares of Zions Bancorporation in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $49.30.
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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.
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