Zions Bancorp (ZION) Insider David E. Blackford Sells 26,322 Shares
Zions Bancorp (NASDAQ:ZION) insider David E. Blackford sold 26,322 shares of the company’s stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $38.53, for a total value of $1,014,186.66. Following the completion of the sale, the insider now owns 40,340 shares in the company, valued at approximately $1,554,300.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Zions Bancorp (NASDAQ:ZION) traded up 3.35% on Wednesday, hitting $39.79. The stock had a trading volume of 3,953,029 shares. The company has a market cap of $8.11 billion, a P/E ratio of 21.86 and a beta of 1.37. The stock’s 50-day moving average is $34.02 and its 200-day moving average is $29.63. Zions Bancorp has a 52-week low of $19.65 and a 52-week high of $40.00.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 24th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the 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 last year, the business earned $0.41 earnings per share. Analysts expect that Zions Bancorp will post $1.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.80%. Zions Bancorp’s payout ratio is 17.58%.
A number of hedge funds have recently bought and sold shares of the stock. Sheets Smith Wealth Management acquired a new stake in Zions Bancorp during the third quarter valued at about $858,000. Price T Rowe Associates Inc. MD raised its stake in Zions Bancorp by 0.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 386,473 shares of the company’s stock valued at $11,988,000 after buying an additional 1,200 shares during the last quarter. LPL Financial LLC acquired a new stake in Zions Bancorp during the third quarter valued at about $301,000. Candriam Luxembourg S.C.A. acquired a new stake in Zions Bancorp during the third quarter valued at about $11,231,000. Finally, SRB Corp acquired a new stake in Zions Bancorp during the third quarter valued at about $173,000. Institutional investors and hedge funds own 86.95% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Thursday, August 4th. Raymond James Financial Inc. lowered Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, October 6th. Vetr upgraded Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 target price on the stock in a research note on Tuesday, August 2nd. FBR & Co increased their target price on Zions Bancorp from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 25th. Finally, Credit Suisse Group AG increased their target price on Zions Bancorp from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. Zions Bancorp currently has a consensus rating of “Hold” and a consensus price target of $35.60.
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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