Creative Planning cut its holdings in shares of Zions Bancorporation NA (NASDAQ:ZION) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,065 shares of the bank’s stock after selling 807 shares during the quarter. Creative Planning’s holdings in Zions Bancorporation NA were worth $2,046,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Avalon Advisors LLC raised its holdings in Zions Bancorporation NA by 0.7% in the 1st quarter. Avalon Advisors LLC now owns 68,396 shares of the bank’s stock valued at $3,106,000 after acquiring an additional 493 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Zions Bancorporation NA in the 1st quarter valued at about $695,000. Boston Advisors LLC raised its holdings in Zions Bancorporation NA by 19.8% in the 1st quarter. Boston Advisors LLC now owns 198,610 shares of the bank’s stock valued at $9,019,000 after acquiring an additional 32,803 shares during the period. Douglas Lane & Associates LLC raised its holdings in Zions Bancorporation NA by 1.1% in the 1st quarter. Douglas Lane & Associates LLC now owns 234,059 shares of the bank’s stock valued at $10,629,000 after acquiring an additional 2,488 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in Zions Bancorporation NA in the 1st quarter valued at about $218,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ ZION traded down $0.36 during trading hours on Wednesday, hitting $45.42. 1,900,884 shares of the stock were exchanged, compared to its average volume of 2,401,962. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.13 and a beta of 1.49. Zions Bancorporation NA has a 1-year low of $38.08 and a 1-year high of $58.66.
Zions Bancorporation NA (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.01). The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $715.64 million. Zions Bancorporation NA had a return on equity of 12.24% and a net margin of 27.58%. During the same quarter in the prior year, the business posted $1.09 EPS. On average, equities research analysts forecast that Zions Bancorporation NA will post 4.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. Zions Bancorporation NA’s dividend payout ratio is 29.41%.
Several research analysts have weighed in on the stock. ValuEngine raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Friday, March 1st. BidaskClub lowered shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Vining Sparks restated a “buy” rating and set a $63.00 target price on shares of Zions Bancorporation NA in a research report on Thursday, January 24th. JPMorgan Chase & Co. lowered shares of Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $53.00 to $50.00 in a research report on Thursday, April 4th. Finally, Wedbush increased their target price on shares of Zions Bancorporation NA from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $54.87.
In related news, insider A Scott Anderson sold 10,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Thomas E. Laursen sold 2,050 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $48.50, for a total transaction of $99,425.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,040 shares of company stock worth $1,552,958 in the last quarter. 1.70% of the stock is currently owned by company insiders.
Zions Bancorporation NA Company 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.
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