Zions Bancorp (ZION) Insider Michael Morris Sells 18,000 Shares
Zions Bancorp (NASDAQ:ZION) insider Michael Morris sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $32.40, for a total transaction of $583,200.00. Following the completion of the sale, the insider now owns 23,323 shares in the company, valued at approximately $755,665.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Zions Bancorp (NASDAQ:ZION) traded up 5.20% on Thursday, hitting $36.42. 2,130,196 shares of the stock were exchanged. Zions Bancorp has a one year low of $19.65 and a one year high of $36.98. The company has a 50 day moving average of $31.50 and a 200 day moving average of $28.61. The stock has a market capitalization of $7.42 billion, a P/E ratio of 20.02 and a beta of 1.37.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 24th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. Zions Bancorp had a net margin of 17.81% and a return on equity of 6.16%. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, equities research analysts forecast that Zions Bancorp will post $1.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Wednesday, November 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, November 14th. Zions Bancorp’s dividend payout ratio is currently 17.58%.
Several equities research analysts have commented on ZION shares. Raymond James Financial Inc. lowered shares of Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, October 6th. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Monday, October 3rd. Credit Suisse Group AG restated an “outperform” rating on shares of Zions Bancorp in a research note on Thursday, August 18th. FBR & Co dropped their price target on shares of Zions Bancorp from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Finally, Vetr cut shares of Zions Bancorp from a “hold” rating to a “sell” rating and set a $26.45 price objective for the company. in a report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $33.89.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MAI Capital Management boosted its position in shares of 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 in the last quarter. Neuberger Berman Group LLC boosted its position 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 worth $456,000 after buying an additional 61 shares in the last quarter. Canada Pension Plan Investment Board boosted its position 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 worth $121,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Zions Bancorp by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 20,924 shares of the company’s stock worth $649,000 after buying an additional 110 shares in the last quarter. Finally, IBM Retirement Fund boosted its position 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 worth $511,000 after buying an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 88.09% 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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