Janus Henderson Group PLC raised its stake in shares of Zions Bancorporation (NASDAQ:ZION) by 16,303.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,231,071 shares of the bank’s stock after acquiring an additional 1,223,566 shares during the period. Janus Henderson Group PLC owned approximately 0.61% of Zions Bancorporation worth $54,056,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in ZION. UBS Asset Management Americas Inc. increased its position in shares of Zions Bancorporation by 5.4% during the first quarter. UBS Asset Management Americas Inc. now owns 161,604 shares of the bank’s stock valued at $6,787,000 after acquiring an additional 8,307 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Zions Bancorporation by 101.7% during the first quarter. Asset Management One Co. Ltd. now owns 48,444 shares of the bank’s stock valued at $2,042,000 after acquiring an additional 24,422 shares during the last quarter. Credit Agricole S A increased its position in shares of Zions Bancorporation by 122.5% during the first quarter. Credit Agricole S A now owns 35,968 shares of the bank’s stock valued at $1,511,000 after acquiring an additional 19,800 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Zions Bancorporation by 17.6% during the first quarter. OppenheimerFunds Inc. now owns 8,150 shares of the bank’s stock valued at $342,000 after acquiring an additional 1,219 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Zions Bancorporation by 0.7% during the first quarter. Principal Financial Group Inc. now owns 315,240 shares of the bank’s stock valued at $13,239,000 after acquiring an additional 2,072 shares during the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.
Shares of Zions Bancorporation (NASDAQ:ZION) opened at 46.60 on Friday. The company has a 50-day moving average of $45.03 and a 200 day moving average of $43.12. Zions Bancorporation has a 52-week low of $30.47 and a 52-week high of $48.33. The stock has a market cap of $9.42 billion, a P/E ratio of 18.55 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 analysts’ consensus estimates of $0.62 by $0.11. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. The business had revenue of $660.00 million during the quarter, compared to the consensus estimate of $640.34 million. During the same quarter last year, the company earned $0.44 earnings per share. Equities research analysts forecast that Zions Bancorporation will post $2.81 EPS for the current fiscal year.
Zions Bancorporation declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $465.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of brokerages have weighed in on ZION. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 price target on shares of Zions Bancorporation in a research report on Thursday. Robert W. Baird cut shares of Zions Bancorporation from a “neutral” rating to an “underperform” rating and set a $43.00 price target for the company. in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $48.00 price target on shares of Zions Bancorporation in a research report on Tuesday, October 3rd. Morgan Stanley reiterated 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. Finally, Zacks Investment Research cut shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $46.95.
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In related news, General Counsel Thomas E. Laursen sold 1,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $46.38, for a total transaction of $46,380.00. Following the transaction, the general counsel now directly owns 23,484 shares in the company, valued at $1,089,187.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 $2,317,234.66. The disclosure for this sale can be found here. Insiders have sold 27,118 shares of company stock valued at $1,222,407 in the last three months. Corporate insiders own 1.46% of the company’s stock.
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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