Russell Investments Group Ltd. increased its holdings in shares of Zions Bancorporation NA (NASDAQ:ZION) by 89.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 423,780 shares of the bank’s stock after acquiring an additional 200,509 shares during the quarter. Russell Investments Group Ltd. owned about 0.26% of Zions Bancorporation NA worth $14,336,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. First Hawaiian Bank raised its stake in Zions Bancorporation NA by 2.0% during the first quarter. First Hawaiian Bank now owns 19,986 shares of the bank’s stock worth $535,000 after purchasing an additional 388 shares during the period. American International Group Inc. raised its stake in Zions Bancorporation NA by 0.6% during the first quarter. American International Group Inc. now owns 61,636 shares of the bank’s stock worth $1,649,000 after purchasing an additional 398 shares during the period. Hartford Investment Management Co. raised its stake in Zions Bancorporation NA by 2.4% during the first quarter. Hartford Investment Management Co. now owns 18,922 shares of the bank’s stock worth $506,000 after purchasing an additional 440 shares during the period. Comerica Bank raised its stake in Zions Bancorporation NA by 2.0% during the second quarter. Comerica Bank now owns 33,180 shares of the bank’s stock worth $1,104,000 after purchasing an additional 652 shares during the period. Finally, Texas Permanent School Fund raised its stake in Zions Bancorporation NA by 2.6% during the first quarter. Texas Permanent School Fund now owns 30,943 shares of the bank’s stock worth $828,000 after purchasing an additional 780 shares during the period. 95.88% of the stock is currently owned by institutional investors.
Shares of ZION stock opened at $33.88 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $5.88 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 3.70 and a beta of 1.65. The company has a 50 day moving average price of $33.03 and a 200 day moving average price of $33.98. Zions Bancorporation NA has a fifty-two week low of $23.58 and a fifty-two week high of $52.48.
Zions Bancorporation NA (NASDAQ:ZION) last announced its quarterly earnings data on Monday, July 20th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Zions Bancorporation NA had a net margin of 15.70% and a return on equity of 7.46%. The business had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.13 million. During the same quarter last year, the firm posted $0.99 EPS. On average, research analysts forecast that Zions Bancorporation NA will post 2.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.01%. The ex-dividend date is Wednesday, August 12th. Zions Bancorporation NA’s dividend payout ratio (DPR) is presently 31.41%.
In other Zions Bancorporation NA news, EVP Terry Alan Shirey sold 15,572 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $35.77, for a total transaction of $557,010.44. Following the completion of the transaction, the executive vice president now owns 22,133 shares in the company, valued at approximately $791,697.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas E. Laursen sold 5,229 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $31.03, for a total transaction of $162,255.87. Following the transaction, the vice president now owns 22,975 shares of the company’s stock, valued at approximately $712,914.25. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.
ZION has been the topic of a number of analyst reports. BidaskClub raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Wednesday, August 12th. B. Riley downgraded shares of Zions Bancorporation NA from a “buy” rating to a “neutral” rating and reduced their price target for the company from $39.00 to $33.00 in a research note on Tuesday, April 21st. UBS Group reduced their price target on shares of Zions Bancorporation NA from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Morgan Stanley boosted their price target on shares of Zions Bancorporation NA from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, June 8th. Finally, ValuEngine downgraded shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Zions Bancorporation NA currently has a consensus rating of “Hold” and an average price target of $39.71.
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.
See Also: Technical Analysis