State of Wisconsin Investment Board cut its stake in shares of Zions Bancorporation (NASDAQ:ZION) by 45.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,815 shares of the bank’s stock after selling 78,938 shares during the period. State of Wisconsin Investment Board’s holdings in Zions Bancorporation were worth $4,426,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in Zions Bancorporation during the second quarter valued at $108,000. Americafirst Capital Management LLC purchased a new position in Zions Bancorporation during the second quarter valued at $175,000. Conning Inc. purchased a new position in Zions Bancorporation during the third quarter valued at $210,000. Global X Management Co. LLC lifted its position in Zions Bancorporation by 58.6% during the second quarter. Global X Management Co. LLC now owns 4,792 shares of the bank’s stock valued at $210,000 after purchasing an additional 1,771 shares in the last quarter. Finally, Bray Capital Advisors purchased a new position in Zions Bancorporation during the second quarter valued at $216,000. Institutional investors own 93.15% of the company’s stock.
Shares of Zions Bancorporation (ZION) opened at $47.10 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation has a 52 week low of $38.03 and a 52 week high of $48.33. The firm has a market capitalization of $9,250.00, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.79 and a beta of 1.48.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a return on equity of 8.48% and a net margin of 24.21%. The company had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. During the same period in the previous year, the firm earned $0.57 earnings per share. equities analysts predict that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.16 per share. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. This represents a $0.64 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, November 14th. Zions Bancorporation’s payout ratio is presently 23.97%.
Several equities analysts recently weighed in on the company. Bank of America Corporation upgraded Zions Bancorporation from a “neutral” rating to a “buy” rating and lifted their target price for the company from $50.00 to $52.00 in a research report on Wednesday, August 16th. Wells Fargo & Company assumed coverage on Zions Bancorporation in a research report on Wednesday, August 9th. They set an “outperform” rating and a $56.00 target price on the stock. B. Riley set a $54.00 target price on Zions Bancorporation and gave the company a “buy” rating in a research report on Monday. Robert W. Baird downgraded Zions Bancorporation from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $46.12 to $43.00 in a research report on Monday, August 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $48.00 target price on shares of Zions Bancorporation in a research report on Tuesday, October 3rd. 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’s stock. Zions Bancorporation presently has an average rating of “Hold” and an average target price of $48.76.
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Zions Bancorporation 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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