Hsbc Holdings PLC lifted its stake in Zions Bancorp (NASDAQ:ZION) by 11.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,679 shares of the bank’s stock after buying an additional 14,664 shares during the quarter. Hsbc Holdings PLC’s holdings in Zions Bancorp were worth $6,954,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new stake in shares of Zions Bancorp in the second quarter worth about $122,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Zions Bancorp in the second quarter worth about $158,000. Huntington National Bank boosted its stake in shares of Zions Bancorp by 2,443.4% in the third quarter. Huntington National Bank now owns 3,281 shares of the bank’s stock worth $164,000 after buying an additional 3,152 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Zions Bancorp by 1,637.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock worth $183,000 after buying an additional 3,275 shares during the last quarter. Finally, First Personal Financial Services purchased a new stake in shares of Zions Bancorp in the third quarter worth about $191,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.
In other Zions Bancorp news, insider A Scott Anderson sold 12,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $47.30, for a total transaction of $567,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leeanne B. Linderman sold 5,878 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $50.26, for a total value of $295,428.28. The disclosure for this sale can be found here. Insiders sold a total of 24,259 shares of company stock valued at $1,170,272 in the last ninety days. 1.60% of the stock is currently owned by insiders.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, October 24th. ValuEngine downgraded Zions Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub downgraded Zions Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 20th. Piper Jaffray Companies upgraded Zions Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $54.00 to $57.00 in a research note on Tuesday, November 6th. Finally, SunTrust Banks upped their target price on Zions Bancorp to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $58.57.
NASDAQ ZION opened at $45.89 on Friday. The stock has a market capitalization of $8.82 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.37. Zions Bancorp has a twelve month low of $44.55 and a twelve month high of $59.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.13.
Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 22nd. The bank reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. The company had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $699.87 million. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. During the same quarter in the prior year, the firm posted $0.72 EPS. As a group, equities research analysts expect that Zions Bancorp will post 4.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th were issued a $0.30 dividend. The ex-dividend date was Tuesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.61%. Zions Bancorp’s payout ratio is 41.96%.
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About Zions Bancorp
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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