Vanguard Group Inc. boosted its position in Zions Bancorp (NASDAQ:ZION) by 3.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,950,779 shares of the company’s stock after buying an additional 596,109 shares during the period. Vanguard Group Inc. owned approximately 8.75% of Zions Bancorp worth $451,103,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. MAI Capital Management raised its stake in Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock worth $217,000 after buying an additional 27 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Zions Bancorp by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 18,136 shares of the company’s stock valued at $456,000 after buying an additional 61 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock valued at $121,000 after buying an additional 100 shares during the last quarter. IBM Retirement Fund raised its stake in shares of Zions Bancorp by 0.7% in the second quarter. IBM Retirement Fund now owns 20,336 shares of the company’s stock valued at $511,000 after buying an additional 144 shares during the last quarter. Finally, World Asset Management Inc raised its stake in shares of Zions Bancorp by 1.5% in the second quarter. World Asset Management Inc now owns 19,331 shares of the company’s stock valued at $486,000 after buying an additional 283 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.
Zions Bancorp (NASDAQ:ZION) opened at 31.31 on Tuesday. The stock has a 50 day moving average price of $30.06 and a 200-day moving average price of $27.33. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 18.87 and a beta of 1.54. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $31.40.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Zions Bancorp had a net margin of 16.37% and a return on equity of 5.62%. During the same period last year, the company posted $0.41 earnings per share. Equities analysts predict that Zions Bancorp will post $1.85 EPS for the current fiscal year.
Several equities research analysts recently commented on ZION shares. Vetr upgraded Zions Bancorp from a “strong sell” rating to a “sell” rating and set a $29.00 target price on the stock in a research report on Monday, September 5th. Raymond James Financial Inc. upped their target price on Zions Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, September 13th. Credit Suisse Group AG upped their target price on Zions Bancorp from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, September 20th. Bank of America Corp. lowered Zions Bancorp from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. Finally, Credit Agricole SA upped their target price on Zions Bancorp from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. Zions Bancorp presently has an average rating of “Hold” and a consensus target price of $31.95.
In other Zions Bancorp news, insider Mark Richard Young sold 65,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the completion of the sale, the insider now directly owns 56,245 shares in the company, valued at approximately $1,165,396.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David E. Blackford sold 1,620 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.81, for a total transaction of $45,052.20. Following the sale, the insider now owns 29,429 shares of the company’s stock, valued at $818,420.49. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
Zions Bancorp Company Profile
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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