Jaffetilchin Investment Partners LLC purchased a new position in shares of Zions Bancorp (NASDAQ:ZION) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,240 shares of the bank’s stock, valued at approximately $724,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of ZION. Balyasny Asset Management LLC lifted its position in Zions Bancorp by 705.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock worth $139,918,000 after buying an additional 2,791,044 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Zions Bancorp by 146.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,698,958 shares of the bank’s stock worth $127,330,000 after buying an additional 1,605,540 shares in the last quarter. Artemis Investment Management LLP lifted its position in Zions Bancorp by 332.1% during the 3rd quarter. Artemis Investment Management LLP now owns 1,751,662 shares of the bank’s stock worth $82,635,000 after buying an additional 1,346,240 shares in the last quarter. Cramer Rosenthal Mcglynn LLC lifted its position in Zions Bancorp by 276.0% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock worth $80,080,000 after buying an additional 1,338,748 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Zions Bancorp by 16,303.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock worth $54,056,000 after buying an additional 1,223,566 shares in the last quarter. Institutional investors and hedge funds own 92.54% of the company’s stock.
In related news, insider Bruce K. Alexander sold 6,089 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total transaction of $292,089.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was 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. Over the last three months, insiders have sold 43,979 shares of company stock valued at $2,057,927. 1.46% of the stock is owned by company insiders.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. The business had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. During the same period in the previous year, the company posted $0.57 earnings per share. analysts anticipate that Zions Bancorp will post 2.8 earnings per share for the current year.
A number of research firms have issued reports on ZION. Morgan Stanley restated an “equal weight” rating and set a $49.00 target price (up from $48.00) on shares of Zions Bancorp in a research report on Wednesday, October 4th. BidaskClub upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Sanford C. Bernstein restated a “market perform” rating and set a $51.00 target price on shares of Zions Bancorp in a research report on Saturday, September 16th. Keefe, Bruyette & Woods restated a “hold” rating and set a $48.00 target price on shares of Zions Bancorp in a research report on Tuesday, October 3rd. Finally, Royal Bank of Canada upped their target price on shares of Zions Bancorp from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Zions Bancorp currently has a consensus rating of “Buy” and an average price target of $51.78.
Zions Bancorp 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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