Twin Capital Management Inc. raised its stake in shares of Zions Bancorp (NASDAQ:ZION) by 46.4% during the second quarter, Holdings Channel reports. The fund owned 128,320 shares of the company’s stock after buying an additional 40,650 shares during the period. Twin Capital Management Inc.’s holdings in Zions Bancorp were worth $3,225,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of ZION. MAI Capital Management raised its position in Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock worth $217,000 after buying an additional 27 shares in the last quarter. Neuberger Berman Group LLC raised its position in Zions Bancorp by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 18,136 shares of the company’s stock worth $456,000 after buying an additional 61 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock worth $121,000 after buying an additional 100 shares in the last quarter. IBM Retirement Fund raised its position in Zions Bancorp by 0.7% in the second quarter. IBM Retirement Fund now owns 20,336 shares of the company’s stock worth $511,000 after buying an additional 144 shares in the last quarter. Finally, World Asset Management Inc raised its position in Zions Bancorp by 1.5% in the second quarter. World Asset Management Inc now owns 19,331 shares of the company’s stock worth $486,000 after buying an additional 283 shares in the last quarter. 88.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zions Bancorp (NASDAQ:ZION) traded up 0.71% on Friday, hitting $31.39. The company’s stock had a trading volume of 2,913,290 shares. Zions Bancorp has a 52 week low of $19.65 and a 52 week high of $32.72. The stock’s 50-day moving average price is $31.23 and its 200-day moving average price is $28.47. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 17.26 and a beta of 1.37.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 24th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Zions Bancorp had a return on equity of 6.16% and a net margin of 17.81%. During the same quarter in the previous year, the company posted $0.41 EPS. Equities analysts expect that Zions Bancorp will post $1.92 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Wednesday, November 16th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Monday, November 14th. Zions Bancorp’s dividend payout ratio (DPR) is presently 17.58%.
A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reissued a “hold” rating on shares of Zions Bancorp in a research report on Saturday, July 9th. FBR & Co lifted their price target on shares of Zions Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Tuesday, October 25th. Barclays PLC lifted their price target on shares of Zions Bancorp from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, October 11th. Deutsche Bank AG reissued a “hold” rating and issued a $36.00 price target on shares of Zions Bancorp in a research report on Thursday. Finally, Vetr raised shares of Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 price target on the stock in a research report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. Zions Bancorp presently has a consensus rating of “Hold” and a consensus target price of $33.00.
In related news, General Counsel Thomas E. Laursen sold 10,000 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $32.26, for a total value of $322,600.00. Following the sale, the general counsel now owns 29,737 shares in the company, valued at approximately $959,315.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Richard Young sold 65,000 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $20.72, for a total value of $1,346,800.00. Following the completion of the sale, the insider now owns 56,245 shares in the company, valued at approximately $1,165,396.40. The disclosure for this sale can be found here. 2.06% of the stock is owned by corporate insiders.
About Zions Bancorp
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.