First Personal Financial Services Takes Position in Zions Bancorp (ZION)

First Personal Financial Services acquired a new stake in Zions Bancorp (NASDAQ:ZION) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,800 shares of the bank’s stock, valued at approximately $191,000.

Several other large investors also recently modified their holdings of ZION. Alps Advisors Inc. lifted its position in Zions Bancorp by 13.5% during the third quarter. Alps Advisors Inc. now owns 9,343 shares of the bank’s stock worth $469,000 after buying an additional 1,108 shares during the period. Janney Montgomery Scott LLC lifted its position in Zions Bancorp by 11.5% during the second quarter. Janney Montgomery Scott LLC now owns 11,794 shares of the bank’s stock worth $621,000 after buying an additional 1,215 shares during the period. MainStreet Investment Advisors LLC lifted its position in Zions Bancorp by 1.9% during the third quarter. MainStreet Investment Advisors LLC now owns 65,772 shares of the bank’s stock worth $3,298,000 after buying an additional 1,254 shares during the period. Financial Counselors Inc. increased its stake in Zions Bancorp by 3.2% during the second quarter. Financial Counselors Inc. now owns 42,253 shares of the bank’s stock worth $2,226,000 after acquiring an additional 1,308 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its stake in Zions Bancorp by 9.7% during the second quarter. First Republic Investment Management Inc. now owns 15,176 shares of the bank’s stock worth $799,000 after acquiring an additional 1,338 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

ZION stock opened at $48.17 on Friday. 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 has a 1 year low of $43.50 and a 1 year high of $59.19. The stock has a market capitalization of $9.12 billion, a PE ratio of 16.84, a P/E/G ratio of 1.36 and a beta of 1.40.

Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, October 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. The business had revenue of $701.00 million during the quarter, compared to analyst estimates of $699.87 million. During the same quarter last year, the firm earned $0.72 earnings per share. Equities analysts predict that Zions Bancorp will post 4.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.49%. Zions Bancorp’s dividend payout ratio (DPR) is currently 41.96%.

In other news, insider A Scott Anderson sold 12,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $47.30, for a total value of $567,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rebecca K. Robinson sold 6,361 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $53.75, for a total value of $341,903.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,945 shares of company stock valued at $1,505,877. Insiders own 1.60% of the company’s stock.

Several equities research analysts have commented on ZION shares. UBS Group lowered Zions Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, September 7th. Morgan Stanley dropped their price target on Zions Bancorp from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 18th. Raymond James upgraded Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. Robert W. Baird upgraded Zions Bancorp from an “underperform” rating to a “neutral” rating and set a $49.00 price target for the company in a research note on Tuesday, October 23rd. Finally, BidaskClub upgraded Zions Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Zions Bancorp has a consensus rating of “Hold” and a consensus target price of $58.19.

Zions Bancorp 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.

Further Reading: What does RSI mean?

Institutional Ownership by Quarter for Zions Bancorp (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply