Nationwide Fund Advisors raised its position in shares of Zions Bancorp (NASDAQ:ZION) by 2.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 84,667 shares of the company’s stock after buying an additional 2,030 shares during the period. Nationwide Fund Advisors’ holdings in Zions Bancorp were worth $2,128,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ZION. Schroder Investment Management Group boosted its position in Zions Bancorp by 1.6% in the second quarter. Schroder Investment Management Group now owns 1,268,500 shares of the company’s stock worth $31,878,000 after buying an additional 19,900 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in Zions Bancorp during the second quarter worth about $5,157,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Zions Bancorp during the second quarter worth about $2,693,000. Twin Capital Management Inc. boosted its position in Zions Bancorp by 46.4% in the second quarter. Twin Capital Management Inc. now owns 128,320 shares of the company’s stock worth $3,225,000 after buying an additional 40,650 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in Zions Bancorp by 64.3% in the second quarter. William Blair Investment Management LLC now owns 26,147 shares of the company’s stock worth $657,000 after buying an additional 10,237 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
Shares of Zions Bancorp (NASDAQ:ZION) traded down 3.156% during mid-day trading on Thursday, reaching $30.225. The company had a trading volume of 898,273 shares. The firm has a 50 day moving average of $30.57 and a 200-day moving average of $27.62. The stock has a market capitalization of $6.20 billion, a P/E ratio of 18.219 and a beta of 1.54. Zions Bancorp has a one year low of $19.65 and a one year high of $32.15.
Zions Bancorp (NASDAQ:ZION) last released its earnings results on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Zions Bancorp had a return on equity of 5.62% and a net margin of 16.37%. During the same quarter in the previous year, the business earned $0.41 EPS. Analysts forecast that Zions Bancorp will post $1.85 EPS for the current fiscal year.
Several analysts have recently weighed in on ZION shares. Bank of America Corp. cut Zions Bancorp from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 29th. Raymond James Financial Inc. cut Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Thursday, October 6th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday, August 4th. Credit Suisse Group AG restated an “outperform” rating on shares of Zions Bancorp in a report on Thursday, August 18th. Finally, FBR & Co reduced their price target on Zions Bancorp from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $32.60.
In other news, insider Mark Richard Young sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the transaction, the insider now owns 56,245 shares of the company’s stock, valued at $1,165,396.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Keith D. Maio sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $27.97, for a total value of $251,730.00. Following the transaction, the executive vice president now directly owns 44,072 shares in the company, valued at approximately $1,232,693.84. The disclosure for this sale can be found here. Insiders own 2.06% of the company’s stock.
Zions Bancorp Company Profile
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.