Engineers Gate Manager LP raised its stake in Zions Bancorp (NASDAQ:ZION) by 192.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,300 shares of the bank’s stock after purchasing an additional 20,614 shares during the period. Engineers Gate Manager LP’s holdings in Zions Bancorp were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Zions Bancorp by 4.3% during the second quarter. Vanguard Group Inc. now owns 21,245,566 shares of the bank’s stock worth $932,892,000 after acquiring an additional 882,190 shares during the last quarter. State Street Corp grew its stake in shares of Zions Bancorp by 8.7% during the second quarter. State Street Corp now owns 12,373,314 shares of the bank’s stock worth $543,315,000 after acquiring an additional 986,548 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Zions Bancorp by 2.0% in the second quarter. TIAA CREF Investment Management LLC now owns 3,590,330 shares of the bank’s stock valued at $157,651,000 after buying an additional 68,904 shares during the last quarter. Balyasny Asset Management LLC boosted its position in Zions Bancorp 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 buying an additional 2,791,044 shares during the last quarter. Finally, Cortland Advisers LLC boosted its position in Zions Bancorp by 49.6% in the third quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock valued at $150,006,000 after buying an additional 1,053,900 shares during the last quarter. Institutional investors own 92.54% of the company’s stock.
In related news, insider Joseph L. Reilly sold 23,271 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total transaction of $1,086,755.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce K. Alexander sold 6,089 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total value of $292,089.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,979 shares of company stock valued at $2,057,927. Company insiders own 1.46% of the company’s stock.
Shares of Zions Bancorp (ZION) traded down $0.13 during trading hours on Tuesday, reaching $50.70. The company’s stock had a trading volume of 2,306,023 shares, compared to its average volume of 2,160,000. The stock has a market cap of $10,130.00, a PE ratio of 18.99, a P/E/G ratio of 1.96 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a 12 month low of $38.43 and a 12 month high of $52.20.
Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $666.83 million. Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. During the same quarter in the prior year, the company posted $0.57 earnings per share. analysts predict that Zions Bancorp will post 2.8 EPS for the current year.
A number of equities research analysts recently commented on ZION shares. Robert W. Baird upgraded Zions Bancorp from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Friday, September 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $60.00 price target on shares of Zions Bancorp in a report on Friday, December 22nd. Zacks Investment Research raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, December 27th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of Zions Bancorp in a report on Wednesday, December 20th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $51.00 target price on shares of Zions Bancorp in a research note on Saturday, September 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Zions Bancorp currently has a consensus rating of “Buy” and a consensus price target of $51.42.
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Zions Bancorp 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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