Financial Counselors Inc. Sells 1,706 Shares of Zions Bancorporation (ZION)
Financial Counselors Inc. cut its holdings in shares of Zions Bancorporation (NASDAQ:ZION) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,973 shares of the bank’s stock after selling 1,706 shares during the period. Financial Counselors Inc.’s holdings in Zions Bancorporation were worth $2,263,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Stifel Financial Corp increased its stake in Zions Bancorporation by 33.2% during the third quarter. Stifel Financial Corp now owns 27,828 shares of the bank’s stock worth $1,311,000 after purchasing an additional 6,941 shares during the period. Cortland Advisers LLC raised its stake in shares of Zions Bancorporation by 49.6% in the 3rd quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock worth $150,006,000 after buying an additional 1,053,900 shares in the last quarter. OxFORD Asset Management LLP raised its stake in shares of Zions Bancorporation by 502.9% in the 3rd quarter. OxFORD Asset Management LLP now owns 118,757 shares of the bank’s stock worth $5,614,000 after buying an additional 99,060 shares in the last quarter. KBC Group NV raised its stake in shares of Zions Bancorporation by 15.7% in the 3rd quarter. KBC Group NV now owns 110,366 shares of the bank’s stock worth $5,207,000 after buying an additional 14,948 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Zions Bancorporation by 2.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,099,132 shares of the bank’s stock worth $51,858,000 after buying an additional 24,431 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.
In other news, EVP Keith D. Maio sold 13,019 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total transaction of $604,602.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $46.55, for a total value of $74,480.00. The disclosure for this sale can be found here. Insiders have sold 43,979 shares of company stock worth $2,057,927 over the last ninety days. 1.46% of the stock is owned by insiders.
Zions Bancorporation (NASDAQ:ZION) last announced its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. During the same period last year, the firm earned $0.57 earnings per share. research analysts anticipate that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 15th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This is a positive change from Zions Bancorporation’s previous quarterly dividend of $0.12. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.26%. Zions Bancorporation’s payout ratio is 23.97%.
A number of analysts have recently commented on ZION shares. Bank of America raised Zions Bancorporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $52.00 in a research note on Wednesday, August 16th. Jefferies Group reissued a “buy” rating and issued a $49.00 price objective on shares of Zions Bancorporation in a research note on Friday, September 15th. FBR & Co reissued a “buy” rating and issued a $54.00 price objective on shares of Zions Bancorporation in a research note on Tuesday, October 24th. B. Riley set a $54.00 price objective on Zions Bancorporation and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, BidaskClub raised Zions Bancorporation from a “hold” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Zions Bancorporation presently has a consensus rating of “Hold” and an average price target of $49.84.
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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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