Allianz Asset Management GmbH reduced its position in shares of Zions Bancorporation NA (NASDAQ:ZION) by 16.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,141 shares of the bank’s stock after selling 2,209 shares during the period. Allianz Asset Management GmbH’s holdings in Zions Bancorporation NA were worth $512,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of ZION. Steward Partners Investment Advisory LLC acquired a new stake in shares of Zions Bancorporation NA during the 2nd quarter valued at approximately $35,000. Amica Retiree Medical Trust acquired a new stake in shares of Zions Bancorporation NA during the 2nd quarter valued at approximately $39,000. Valeo Financial Advisors LLC raised its position in shares of Zions Bancorporation NA by 48.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock valued at $41,000 after acquiring an additional 295 shares in the last quarter. Towerpoint Wealth LLC acquired a new stake in shares of Zions Bancorporation NA during the 2nd quarter valued at approximately $50,000. Finally, Mizuho Securities Co. Ltd. raised its position in shares of Zions Bancorporation NA by 200.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 1,500 shares of the bank’s stock valued at $68,000 after acquiring an additional 1,000 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.
In related news, General Counsel Thomas E. Laursen sold 957 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.75, for a total transaction of $38,997.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander Hume sold 9,929 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $45.17, for a total value of $448,492.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,886 shares of company stock valued at $936,691. 1.70% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on the company. Barclays dropped their price target on Zions Bancorporation NA from $60.00 to $56.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Zacks Investment Research lowered Zions Bancorporation NA from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a research report on Thursday, June 27th. Wells Fargo & Co reissued a “hold” rating on shares of Zions Bancorporation NA in a research report on Friday, August 16th. BidaskClub lowered Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Piper Jaffray Companies dropped their price target on Zions Bancorporation NA from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.00.
Shares of ZION opened at $44.63 on Friday. The company has a market cap of $7.50 billion, a P/E ratio of 10.94, a PEG ratio of 1.25 and a beta of 1.53. The stock has a fifty day moving average price of $41.69 and a 200 day moving average price of $45.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation NA has a 12 month low of $38.08 and a 12 month high of $52.82.
Zions Bancorporation NA (NASDAQ:ZION) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.10). The company had revenue of $701.00 million for the quarter, compared to the consensus estimate of $723.21 million. Zions Bancorporation NA had a return on equity of 12.26% and a net margin of 26.99%. During the same quarter in the previous year, the company earned $0.89 earnings per share. As a group, research analysts anticipate that Zions Bancorporation NA will post 4.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $0.34 per share. This is an increase from Zions Bancorporation NA’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Wednesday, August 14th. Zions Bancorporation NA’s dividend payout ratio is presently 33.33%.
About Zions Bancorporation NA
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as 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 services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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