Nomura Holdings Inc. Acquires 817,817 Shares of Zions Bancorp (ZION)
Nomura Holdings Inc. increased its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 1,924.3% in the second quarter, HoldingsChannel.com reports. The firm owned 860,317 shares of the bank’s stock after buying an additional 817,817 shares during the quarter. Nomura Holdings Inc.’s holdings in Zions Bancorp were worth $45,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in Zions Bancorp by 74.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,381,320 shares of the bank’s stock worth $283,756,000 after buying an additional 2,300,318 shares during the last quarter. LSV Asset Management raised its position in Zions Bancorp by 47.2% during the 2nd quarter. LSV Asset Management now owns 2,474,512 shares of the bank’s stock worth $130,382,000 after buying an additional 793,439 shares during the last quarter. Janus Henderson Group PLC raised its position in Zions Bancorp by 120.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,422,887 shares of the bank’s stock worth $74,972,000 after buying an additional 777,750 shares during the last quarter. Victory Capital Management Inc. raised its position in Zions Bancorp by 118.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,404,327 shares of the bank’s stock worth $73,994,000 after buying an additional 760,488 shares during the last quarter. Finally, EJF Capital LLC raised its position in Zions Bancorp by 36.6% during the 1st quarter. EJF Capital LLC now owns 1,650,943 shares of the bank’s stock worth $87,054,000 after buying an additional 442,280 shares during the last quarter. Hedge funds and other institutional investors own 94.78% of the company’s stock.
NASDAQ:ZION opened at $51.71 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. Zions Bancorp has a twelve month low of $43.20 and a twelve month high of $59.19. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.43 and a beta of 1.37.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Shareholders of record on Thursday, August 16th were paid a dividend of $0.30 per share. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.24. This represents a $1.20 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Wednesday, August 15th. Zions Bancorp’s dividend payout ratio (DPR) is currently 41.96%.
In related news, insider Mark Richard Young sold 2,538 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $53.32, for a total value of $135,326.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander Hume sold 4,046 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $54.51, for a total transaction of $220,547.46. The disclosure for this sale can be found here. Insiders sold 18,896 shares of company stock worth $1,016,029 over the last three months. Corporate insiders own 1.60% of the company’s stock.
ZION has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, July 16th. Jefferies Financial Group restated a “buy” rating and set a $60.00 price objective on shares of Zions Bancorp in a research report on Friday, July 13th. BidaskClub downgraded shares of Zions Bancorp from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 26th. Royal Bank of Canada reiterated a “buy” rating and issued a $61.00 price target on shares of Zions Bancorp in a report on Tuesday, July 24th. Finally, Morgan Stanley cut their price target on shares of Zions Bancorp from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $58.90.
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.
Further Reading: Hedge Funds Explained
Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.