Zions Bancorp (ZION) Insider Alexander Hume Sells 11,571 Shares of Stock
Zions Bancorp (NASDAQ:ZION) insider Alexander Hume sold 11,571 shares of Zions Bancorp stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $38.53, for a total value of $445,830.63. Following the completion of the transaction, the insider now owns 8,270 shares in the company, valued at $318,643.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Zions Bancorp (NASDAQ:ZION) traded up 0.55% during midday trading on Friday, hitting $38.12. The stock had a trading volume of 1,780,407 shares. Zions Bancorp has a 1-year low of $19.65 and a 1-year high of $38.88. The firm has a 50-day moving average price of $32.72 and a 200-day moving average price of $29.04. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 20.95 and a beta of 1.37.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 24th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Zions Bancorp had a return on equity of 6.16% and a net margin of 17.81%. During the same period in the prior year, the company earned $0.41 EPS. On average, equities analysts anticipate that Zions Bancorp will post $1.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Monday, November 14th. Zions Bancorp’s dividend payout ratio is 17.58%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its position in Zions Bancorp by 3.9% in the third quarter. Great West Life Assurance Co. Can now owns 109,583 shares of the company’s stock worth $3,395,000 after buying an additional 4,084 shares during the period. Endeavour Capital Advisors Inc. boosted its position in Zions Bancorp by 32.3% in the first quarter. Endeavour Capital Advisors Inc. now owns 1,811,553 shares of the company’s stock worth $43,858,000 after buying an additional 442,737 shares during the period. Geode Capital Management LLC boosted its position in Zions Bancorp by 1.9% in the first quarter. Geode Capital Management LLC now owns 1,757,949 shares of the company’s stock worth $42,495,000 after buying an additional 32,076 shares during the period. Artemis Investment Management LLP boosted its position in Zions Bancorp by 772.6% in the second quarter. Artemis Investment Management LLP now owns 4,122,053 shares of the company’s stock worth $103,567,000 after buying an additional 3,649,671 shares during the period. Finally, Legal & General Group Plc boosted its position in Zions Bancorp by 0.5% in the first quarter. Legal & General Group Plc now owns 785,452 shares of the company’s stock worth $19,019,000 after buying an additional 3,866 shares during the period. Hedge funds and other institutional investors own 90.69% of the company’s stock.
A number of analysts recently weighed in on ZION shares. Vetr upgraded Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 price target on the stock in a research note on Tuesday, August 2nd. Credit Suisse Group AG restated an “outperform” rating on shares of Zions Bancorp in a research note on Thursday, August 18th. RBC Capital Markets restated an “outperform” rating and issued a $40.00 price target (up from $32.00) on shares of Zions Bancorp in a research note on Thursday, November 10th. Zacks Investment Research downgraded Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Finally, Morgan Stanley downgraded Zions Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $34.53.
About Zions Bancorp
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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