Zions Bancorp (ZION) Insider Sells $713,616.80 in Stock
Zions Bancorp (NASDAQ:ZION) insider Bruce K. Alexander sold 18,608 shares of the stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $38.35, for a total value of $713,616.80. Following the sale, the insider now directly owns 22,403 shares in the company, valued at approximately $859,155.05. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Zions Bancorp (NASDAQ:ZION) traded up 0.31% during midday trading on Tuesday, hitting $38.66. The stock had a trading volume of 2,903,628 shares. The company has a market cap of $7.88 billion, a PE ratio of 21.24 and a beta of 1.37. The company’s 50 day moving average is $33.14 and its 200 day moving average is $29.25. Zions Bancorp has a 52-week low of $19.65 and a 52-week high of $38.88.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, October 24th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Zions Bancorp will post $1.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Wednesday, November 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. Zions Bancorp’s dividend payout ratio is currently 17.58%.
Several analysts have weighed in on the company. Morgan Stanley cut Zions Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $34.00 to $38.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call. Sanford C. Bernstein cut Zions Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the company from $37.00 to $38.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call. Zacks Investment Research raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, November 16th. Macquarie cut Zions Bancorp from an “outperform” rating to a “neutral” rating in a report on Tuesday. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price target (up previously from $32.00) on shares of Zions Bancorp in a report on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Zions Bancorp has an average rating of “Hold” and a consensus price target of $34.70.
Several large investors have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in Zions Bancorp during the third quarter worth approximately $131,000. Jacobus Wealth Management Inc. increased its stake in Zions Bancorp by 12.2% in the third quarter. Jacobus Wealth Management Inc. now owns 4,600 shares of the company’s stock worth $143,000 after buying an additional 500 shares in the last quarter. Seven Eight Capital LLC increased its stake in Zions Bancorp by 235.4% in the first quarter. Seven Eight Capital LLC now owns 6,412 shares of the company’s stock worth $155,000 after buying an additional 4,500 shares in the last quarter. SRB Corp purchased a new stake in Zions Bancorp during the third quarter worth approximately $173,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Zions Bancorp by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,293 shares of the company’s stock worth $195,000 after buying an additional 748 shares in the last quarter. Institutional investors own 91.36% of the company’s stock.
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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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