Rothschild Asset Management Inc. reduced its stake in Zions Bancorp (NASDAQ:ZION) by 11.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 647,869 shares of the bank’s stock after selling 83,963 shares during the quarter. Rothschild Asset Management Inc. owned about 0.33% of Zions Bancorp worth $34,136,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Centaurus Financial Inc. purchased a new position in shares of Zions Bancorp in the 1st quarter valued at approximately $106,000. NuWave Investment Management LLC raised its position in shares of Zions Bancorp by 306.4% in the 1st quarter. NuWave Investment Management LLC now owns 2,089 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,575 shares during the last quarter. Three Peaks Capital Management LLC purchased a new position in shares of Zions Bancorp in the 1st quarter valued at approximately $112,000. Piedmont Investment Advisors LLC purchased a new position in shares of Zions Bancorp in the 2nd quarter valued at approximately $122,000. Finally, Whittier Trust Co. raised its position in shares of Zions Bancorp by 493.1% in the 1st quarter. Whittier Trust Co. now owns 2,420 shares of the bank’s stock valued at $128,000 after purchasing an additional 2,012 shares during the last quarter. 94.22% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on ZION. Wedbush began coverage on shares of Zions Bancorp in a research report on Monday, May 14th. They issued a “neutral” rating and a $62.00 price objective for the company. BidaskClub lowered shares of Zions Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 26th. Morgan Stanley raised their price target on shares of Zions Bancorp from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, April 27th. Barclays raised their price target on shares of Zions Bancorp from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 24th. Finally, BMO Capital Markets reduced their price target on shares of Zions Bancorp from $60.00 to $57.00 and set a “market perform” rating for the company in a research report on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Zions Bancorp has a consensus rating of “Buy” and a consensus price target of $58.90.
ZION opened at $52.72 on Thursday. Zions Bancorp has a 12-month low of $41.22 and a 12-month high of $59.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Monday, July 23rd. The bank reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The firm had revenue of $686.00 million for the quarter, compared to analyst estimates of $687.26 million. Zions Bancorp had a return on equity of 10.86% and a net margin of 25.03%. During the same period in the previous year, the business earned $0.73 EPS. analysts expect that Zions Bancorp will post 3.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 23rd. Stockholders of record on Thursday, August 16th will be paid a dividend of $0.30 per share. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. Zions Bancorp’s dividend payout ratio (DPR) is presently 33.57%.
About Zions Bancorp
Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.
Featured Article: Outstanding Shares and The Effect on Share Price
Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zions Bancorp (NASDAQ:ZION).
Receive News & Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.