APG Asset Management N.V. trimmed its holdings in shares of Zions Bancorporation NA (NASDAQ:ZION) by 91.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,300 shares of the bank’s stock after selling 442,800 shares during the period. APG Asset Management N.V.’s holdings in Zions Bancorporation NA were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in ZION. Wells Fargo & Company MN lifted its holdings in Zions Bancorporation NA by 42.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,258,511 shares of the bank’s stock worth $149,826,000 after buying an additional 971,840 shares during the last quarter. Fiduciary Management Inc. WI lifted its holdings in Zions Bancorporation NA by 66.3% during the 2nd quarter. Fiduciary Management Inc. WI now owns 1,404,960 shares of the bank’s stock worth $64,600,000 after buying an additional 559,890 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Zions Bancorporation NA by 169.6% during the 1st quarter. Acadian Asset Management LLC now owns 681,034 shares of the bank’s stock worth $30,926,000 after buying an additional 428,389 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in Zions Bancorporation NA by 34.4% during the 1st quarter. Ceredex Value Advisors LLC now owns 1,590,350 shares of the bank’s stock worth $72,218,000 after buying an additional 407,050 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Zions Bancorporation NA by 52.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,145,579 shares of the bank’s stock worth $52,674,000 after buying an additional 393,100 shares during the last quarter. 95.83% of the stock is owned by institutional investors.
A number of analysts have issued reports on ZION shares. BidaskClub raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Barclays decreased their price target on Zions Bancorporation NA from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods downgraded Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $53.00 to $47.00 in a report on Tuesday, July 23rd. Zacks Investment Research downgraded Zions Bancorporation NA from a “buy” rating to a “hold” rating and set a $46.00 price target for the company. in a report on Thursday, June 27th. Finally, ValuEngine raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $51.19.
In related news, insider A Scott Anderson sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $44.92, for a total value of $449,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Alexander Hume sold 9,929 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $45.17, for a total value of $448,492.93. The disclosure for this sale can be found here. Insiders sold a total of 20,886 shares of company stock worth $936,691 in the last 90 days. 1.70% of the stock is currently owned by insiders.
Shares of Zions Bancorporation NA stock traded up $0.88 on Friday, hitting $44.09. The stock had a trading volume of 1,570,427 shares, compared to its average volume of 1,730,296. Zions Bancorporation NA has a 52-week low of $38.08 and a 52-week high of $51.81. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 1.34 and a beta of 1.55. The company’s 50 day moving average price is $42.67 and its 200 day moving average price is $44.66.
Zions Bancorporation NA (NASDAQ:ZION) last posted its earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.10). The firm had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $723.21 million. Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. During the same period in the previous year, the firm posted $0.89 earnings per share. Analysts predict that Zions Bancorporation NA will post 4.2 EPS for the current fiscal year.
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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