Cigna Investments Inc. New reduced its position in shares of Zions Bancorporation NA (NASDAQ:ZION) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,472 shares of the bank’s stock after selling 921 shares during the period. Cigna Investments Inc. New’s holdings in Zions Bancorporation NA were worth $204,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Thor Advisors LLC purchased a new stake in Zions Bancorporation NA during the 3rd quarter worth approximately $34,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Zions Bancorporation NA by 37.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,068 shares of the bank’s stock worth $47,000 after purchasing an additional 293 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Zions Bancorporation NA by 147.6% during the 3rd quarter. Parallel Advisors LLC now owns 1,166 shares of the bank’s stock worth $52,000 after purchasing an additional 695 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Zions Bancorporation NA by 409.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,458 shares of the bank’s stock worth $65,000 after purchasing an additional 1,172 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Zions Bancorporation NA during the 3rd quarter worth approximately $80,000. Institutional investors own 96.55% of the company’s stock.
In related news, VP Alan M. Forney sold 3,029 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $46.47, for a total value of $140,757.63. Following the transaction, the vice president now directly owns 10,379 shares in the company, valued at $482,312.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP A Scott Anderson sold 4,631 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $46.20, for a total value of $213,952.20. Following the completion of the transaction, the vice president now owns 35,847 shares in the company, valued at $1,656,131.40. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Several brokerages have recently weighed in on ZION. DA Davidson cut Zions Bancorporation NA from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Evercore ISI began coverage on Zions Bancorporation NA in a report on Friday, February 7th. They set a “hold” rating and a $53.00 target price on the stock. SunTrust Banks boosted their target price on Zions Bancorporation NA from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Morgan Stanley boosted their target price on Zions Bancorporation NA from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets boosted their target price on Zions Bancorporation NA from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Zions Bancorporation NA has a consensus rating of “Hold” and a consensus target price of $51.12.
ZION opened at $46.26 on Friday. Zions Bancorporation NA has a one year low of $39.11 and a one year high of $52.48. The stock has a market capitalization of $7.89 billion, a PE ratio of 11.09, a P/E/G ratio of 1.35 and a beta of 1.53. The business’s 50 day moving average price is $48.93 and its 200 day moving average price is $46.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.85 and a current ratio of 0.85.
Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.11). Zions Bancorporation NA had a net margin of 25.15% and a return on equity of 12.19%. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $702.03 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. As a group, equities research analysts forecast that Zions Bancorporation NA will post 4.4 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 13th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Wednesday, February 12th. Zions Bancorporation NA’s dividend payout ratio is presently 31.41%.
Zions Bancorporation NA Company Profile
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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