Zions Bancorp (ZION) Shares Bought by EJF Capital LLC
EJF Capital LLC boosted its stake in Zions Bancorp (NASDAQ:ZION) by 36.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,650,943 shares of the bank’s stock after buying an additional 442,280 shares during the quarter. Zions Bancorp makes up 7.0% of EJF Capital LLC’s investment portfolio, making the stock its 2nd largest holding. EJF Capital LLC owned 0.84% of Zions Bancorp worth $87,054,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stansberry Asset Management LLC purchased a new stake in Zions Bancorp in the 4th quarter valued at $2,946,000. Rhumbline Advisers raised its position in Zions Bancorp by 1.1% in the 4th quarter. Rhumbline Advisers now owns 364,084 shares of the bank’s stock valued at $18,506,000 after buying an additional 3,973 shares during the last quarter. Virtu Financial LLC purchased a new stake in Zions Bancorp in the 4th quarter valued at $200,000. Macquarie Group Ltd. raised its position in Zions Bancorp by 30.4% in the 4th quarter. Macquarie Group Ltd. now owns 260,031 shares of the bank’s stock valued at $13,217,000 after buying an additional 60,578 shares during the last quarter. Finally, Financial Counselors Inc. raised its position in Zions Bancorp by 9.0% in the 4th quarter. Financial Counselors Inc. now owns 52,305 shares of the bank’s stock valued at $2,659,000 after buying an additional 4,332 shares during the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.
In other news, General Counsel Thomas E. Laursen sold 1,400 shares of the stock in a transaction on Friday, April 27th. The stock was sold at an average price of $55.17, for a total transaction of $77,238.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David E. Blackford sold 6,180 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $58.24, for a total value of $359,923.20. The disclosure for this sale can be found here. Insiders have sold a total of 49,291 shares of company stock valued at $2,746,806 in the last quarter. 1.60% of the stock is owned by corporate insiders.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 23rd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.27. The company had revenue of $680.00 million during the quarter, compared to the consensus estimate of $666.12 million. Zions Bancorp had a return on equity of 10.41% and a net margin of 24.49%. During the same quarter in the prior year, the company earned $0.61 EPS. equities analysts forecast that Zions Bancorp will post 3.95 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 24th. Stockholders of record on Thursday, May 17th were paid a dividend of $0.24 per share. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, May 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.75%. Zions Bancorp’s dividend payout ratio is presently 33.57%.
A number of equities research analysts recently commented on ZION shares. Bank of America set a $60.00 price target on Zions Bancorp and gave the company a “buy” rating in a research report on Wednesday, February 14th. Zacks Investment Research lowered Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. UBS Group started coverage on Zions Bancorp in a research report on Wednesday, March 21st. They issued a “buy” rating and a $67.00 price target for the company. Sandler O’Neill reaffirmed a “buy” rating and set a $62.00 target price on shares of Zions Bancorp in a research report on Friday, March 9th. Finally, Barclays raised their target price on Zions Bancorp from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. Zions Bancorp presently has a consensus rating of “Buy” and an average price target of $58.29.
Zions Bancorp Company Profile
Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.
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