Engineers Gate Manager LP Has $1.48 Million Holdings in Zions Bancorporation (ZION)

Engineers Gate Manager LP boosted its stake in shares of Zions Bancorporation (NASDAQ:ZION) by 192.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,300 shares of the bank’s stock after acquiring an additional 20,614 shares during the quarter. Engineers Gate Manager LP’s holdings in Zions Bancorporation were worth $1,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZION. Strs Ohio increased its stake in Zions Bancorporation by 94.7% during the second quarter. Strs Ohio now owns 18,675 shares of the bank’s stock worth $820,000 after acquiring an additional 9,084 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Zions Bancorporation by 40.5% during the second quarter. Great West Life Assurance Co. Can now owns 142,672 shares of the bank’s stock worth $6,257,000 after acquiring an additional 41,139 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Zions Bancorporation during the second quarter worth approximately $263,000. IFP Advisors Inc increased its stake in Zions Bancorporation by 68.7% during the second quarter. IFP Advisors Inc now owns 5,451 shares of the bank’s stock worth $239,000 after acquiring an additional 2,220 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in Zions Bancorporation by 0.4% during the second quarter. Retirement Systems of Alabama now owns 98,246 shares of the bank’s stock worth $4,314,000 after acquiring an additional 398 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Zions Bancorporation (ZION) opened at $50.93 on Monday. Zions Bancorporation has a 12-month low of $38.43 and a 12-month high of $52.20. The stock has a market capitalization of $10,172.96, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 1.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation (NASDAQ:ZION) last announced its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The business had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $666.83 million. Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. During the same quarter last year, the firm earned $0.57 EPS. equities research analysts forecast that Zions Bancorporation will post 2.8 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th were issued a $0.16 dividend. This is a positive change from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, November 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.26%. Zions Bancorporation’s payout ratio is presently 24.06%.

Several brokerages have weighed in on ZION. Bank of America raised Zions Bancorporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $52.00 in a research note on Wednesday, August 16th. BidaskClub raised Zions Bancorporation from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $48.00 price objective on shares of Zions Bancorporation in a research note on Tuesday, October 3rd. Robert W. Baird lowered Zions Bancorporation from a “neutral” rating to an “underperform” rating and set a $43.00 target price for the company. in a research report on Monday, October 2nd. Finally, Barclays set a $52.00 target price on Zions Bancorporation and gave the company an “overweight” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $49.84.

In related news, insider Bruce K. Alexander sold 6,089 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total value of $292,089.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $46.55, for a total value of $74,480.00. The disclosure for this sale can be found here. Insiders sold 43,979 shares of company stock valued at $2,057,927 in the last quarter. 1.46% of the stock is owned by company insiders.

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Zions Bancorporation Company Profile

Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.

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

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