Royal London Asset Management Ltd. lowered its position in shares of Zions Bancorporation NA (NASDAQ:ZION) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,921 shares of the bank’s stock after selling 10,140 shares during the period. Royal London Asset Management Ltd.’s holdings in Zions Bancorporation NA were worth $3,357,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Zions Bancorporation NA by 0.9% in the 4th quarter. BlackRock Inc. now owns 13,086,266 shares of the bank’s stock valued at $533,134,000 after acquiring an additional 115,951 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Zions Bancorporation NA by 13.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,726,342 shares of the bank’s stock valued at $192,552,000 after acquiring an additional 565,470 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Zions Bancorporation NA by 154.7% in the 4th quarter. Millennium Management LLC now owns 3,913,496 shares of the bank’s stock valued at $159,436,000 after acquiring an additional 2,376,929 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Zions Bancorporation NA by 3.7% in the 4th quarter. American Century Companies Inc. now owns 3,742,385 shares of the bank’s stock valued at $152,465,000 after acquiring an additional 133,547 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Zions Bancorporation NA by 6.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,739,554 shares of the bank’s stock valued at $187,539,000 after acquiring an additional 224,892 shares during the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.
In other Zions Bancorporation NA news, EVP Keith D. Maio sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $48.67, for a total transaction of $535,370.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David E. Blackford sold 2,312 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $45.13, for a total value of $104,340.56. The disclosure for this sale can be found here. Insiders have sold a total of 27,714 shares of company stock valued at $1,319,841 in the last ninety days. 1.70% of the stock is currently owned by corporate insiders.
ZION traded up $0.36 during midday trading on Wednesday, reaching $44.61. 1,883,661 shares of the company’s stock traded hands, compared to its average volume of 2,407,164. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 1.14 and a beta of 1.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation NA has a 52 week low of $38.08 and a 52 week high of $57.60.
Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Monday, April 22nd. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $715.64 million. Zions Bancorporation NA had a net margin of 27.58% and a return on equity of 12.24%. During the same period in the previous year, the company earned $1.09 EPS. As a group, sell-side analysts expect that Zions Bancorporation NA will post 4.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Wednesday, May 15th. Zions Bancorporation NA’s payout ratio is 29.41%.
A number of equities research analysts have recently weighed in on ZION shares. BidaskClub raised Zions Bancorporation NA from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. ValuEngine lowered Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Finally, JPMorgan Chase & Co. lowered Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $53.00 to $50.00 in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Zions Bancorporation NA presently has an average rating of “Hold” and an average target price of $54.87.
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About Zions Bancorporation NA
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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