Highlander Capital Management LLC Has $134,000 Position in Zions Bancorporation (ZION)
Highlander Capital Management LLC held its stake in shares of Zions Bancorporation (NASDAQ:ZION) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,000 shares of the bank’s stock at the end of the 2nd quarter. Highlander Capital Management LLC’s holdings in Zions Bancorporation were worth $134,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of Zions Bancorporation in the second quarter worth $108,000. Global X Management Co. LLC boosted its position in shares of Zions Bancorporation by 340.4% in the first quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock worth $127,000 after buying an additional 2,335 shares during the period. Exane Derivatives acquired a new stake in shares of Zions Bancorporation in the second quarter worth $132,000. FNY Partners Fund LP acquired a new stake in shares of Zions Bancorporation in the first quarter worth $188,000. Finally, Bray Capital Advisors acquired a new stake in shares of Zions Bancorporation in the second quarter worth $216,000. 92.30% of the stock is owned by institutional investors and hedge funds.
ZION has been the subject of several recent analyst reports. Robert W. Baird raised Zions Bancorporation from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a research report on Friday, September 8th. BMO Capital Markets reaffirmed a “hold” rating and issued a $44.00 target price on shares of Zions Bancorporation in a research report on Thursday, June 29th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 target price on shares of Zions Bancorporation in a research report on Monday, June 19th. Wells Fargo & Company initiated coverage on Zions Bancorporation in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $56.00 target price for the company. Finally, Zacks Investment Research cut Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Zions Bancorporation has an average rating of “Hold” and a consensus price target of $46.71.
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Zions Bancorporation (NASDAQ ZION) traded down 0.31% during trading on Wednesday, reaching $47.56. The company’s stock had a trading volume of 271,540 shares. Zions Bancorporation has a 52 week low of $30.07 and a 52 week high of $48.33. The company has a market cap of $9.62 billion, a P/E ratio of 18.95 and a beta of 1.44. The company’s 50 day moving average price is $44.79 and its 200 day moving average price is $43.02.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, July 25th. The bank reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.11. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. The company had revenue of $660.00 million during the quarter, compared to the consensus estimate of $640.34 million. During the same period in the prior year, the business posted $0.44 EPS. On average, equities analysts anticipate that Zions Bancorporation will post $2.82 earnings per share for the current fiscal year.
Zions Bancorporation announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $465.00 million in shares. This repurchase authorization permits the bank to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In related news, General Counsel Thomas E. Laursen sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $46.38, for a total value of $46,380.00. Following the completion of the sale, the general counsel now directly owns 23,484 shares in the company, valued at approximately $1,089,187.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David E. Blackford sold 9,533 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $44.94, for a total transaction of $428,413.02. Following the completion of the sale, the insider now owns 22,997 shares of the company’s stock, valued at $1,033,485.18. The disclosure for this sale can be found here. Insiders sold a total of 27,118 shares of company stock valued at $1,222,407 over the last quarter. 1.46% of the stock is currently owned by company insiders.
About Zions Bancorporation
Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.
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