LS Investment Advisors LLC raised its stake in Zions Bancorporation NA (NASDAQ:ZION) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,655 shares of the bank’s stock after acquiring an additional 974 shares during the period. LS Investment Advisors LLC’s holdings in Zions Bancorporation NA were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in Zions Bancorporation NA by 3.8% in the second quarter. Meeder Asset Management Inc. now owns 17,062 shares of the bank’s stock valued at $784,000 after acquiring an additional 622 shares in the last quarter. Crestline Management LP acquired a new position in Zions Bancorporation NA in the second quarter valued at $1,090,000. Calamos Wealth Management LLC boosted its stake in Zions Bancorporation NA by 2.7% in the second quarter. Calamos Wealth Management LLC now owns 132,872 shares of the bank’s stock valued at $6,109,000 after acquiring an additional 3,466 shares in the last quarter. Strs Ohio boosted its stake in Zions Bancorporation NA by 5.9% in the third quarter. Strs Ohio now owns 27,297 shares of the bank’s stock valued at $1,215,000 after acquiring an additional 1,517 shares in the last quarter. Finally, CX Institutional boosted its stake in Zions Bancorporation NA by 21.5% in the second quarter. CX Institutional now owns 24,502 shares of the bank’s stock valued at $1,127,000 after acquiring an additional 4,338 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.
Several equities analysts have issued reports on the stock. SunTrust Banks decreased their price objective on shares of Zions Bancorporation NA from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Piper Jaffray Companies decreased their price objective on shares of Zions Bancorporation NA from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Bank of America upped their price objective on shares of Zions Bancorporation NA from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Jefferies Financial Group downgraded shares of Zions Bancorporation NA from a “buy” rating to a “hold” rating and decreased their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada increased their target price on shares of Zions Bancorporation NA to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $51.00.
In related news, General Counsel Thomas E. Laursen sold 957 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $40.75, for a total transaction of $38,997.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Terry Alan Shirey sold 9,429 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $48.47, for a total transaction of $457,023.63. Insiders have sold 24,648 shares of company stock valued at $1,194,303 over the last three months. 1.70% of the stock is currently owned by corporate insiders.
Shares of ZION opened at $50.37 on Thursday. Zions Bancorporation NA has a fifty-two week low of $38.08 and a fifty-two week high of $51.81. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.67 and a beta of 1.57. The firm has a 50-day simple moving average of $45.55 and a 200-day simple moving average of $44.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 0.84.
Zions Bancorporation NA (NASDAQ:ZION) last announced its earnings results on Monday, October 21st. The bank reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.09. Zions Bancorporation NA had a net margin of 26.50% and a return on equity of 12.27%. The business had revenue of $713.00 million during the quarter, compared to the consensus estimate of $709.29 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Equities research analysts forecast that Zions Bancorporation NA will post 4.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.36 annualized dividend and a yield of 2.70%. Zions Bancorporation NA’s dividend payout ratio is currently 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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