Short Interest in Zions Bancorp (ZION) Expands By 8.3%
Zions Bancorp (NASDAQ:ZION) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 22,010,852 shares, an increase of 8.3% from the February 15th total of 20,330,784 shares. Based on an average daily trading volume, of 2,217,637 shares, the days-to-cover ratio is presently 9.9 days. Currently, 11.0% of the company’s shares are sold short.
In other news, President Scott J. Mclean sold 31,309 shares of Zions Bancorp stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $56.15, for a total value of $1,758,000.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Thomas E. Laursen sold 1,250 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total value of $67,850.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,224 shares of company stock worth $3,156,817. Corporate insiders own 1.46% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB raised its stake in Zions Bancorp by 9.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 18,747 shares of the bank’s stock valued at $953,000 after buying an additional 1,614 shares during the last quarter. Delek Group Ltd. purchased a new position in Zions Bancorp during the fourth quarter valued at $5,583,000. Sawtooth Solutions LLC purchased a new position in Zions Bancorp during the fourth quarter valued at $302,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Zions Bancorp by 102.5% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the bank’s stock valued at $412,000 after buying an additional 4,100 shares during the last quarter. Finally, Divergent Wealth Advisors LLC purchased a new position in Zions Bancorp during the fourth quarter valued at $204,000. Institutional investors and hedge funds own 93.55% of the company’s stock.
Zions Bancorp (NASDAQ ZION) opened at $57.04 on Monday. The company has a market capitalization of $11,390.00, a P/E ratio of 20.08, a PEG ratio of 1.67 and a beta of 1.37. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. Zions Bancorp has a one year low of $38.43 and a one year high of $57.13.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.07. The business had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $670.55 million. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. During the same quarter in the previous year, the business earned $0.60 earnings per share. analysts expect that Zions Bancorp will post 3.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were paid a dividend of $0.20 per share. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. Zions Bancorp’s payout ratio is presently 28.17%.
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Zions Bancorp Company Profile
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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