Northpointe Capital LLC purchased a new position in shares of Zions Bancorporation NA (NASDAQ:ZION) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 83,793 shares of the bank’s stock, valued at approximately $3,805,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of ZION. Smith Asset Management Group LP acquired a new position in shares of Zions Bancorporation NA during the 4th quarter valued at about $27,000. CSat Investment Advisory L.P. grew its holdings in Zions Bancorporation NA by 97.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock valued at $31,000 after buying an additional 373 shares during the last quarter. Pinnacle Bank acquired a new stake in Zions Bancorporation NA in the 4th quarter valued at approximately $33,000. Doyle Wealth Management acquired a new stake in Zions Bancorporation NA in the 4th quarter valued at approximately $33,000. Finally, JOYN Advisors Inc. grew its holdings in Zions Bancorporation NA by 2,100.0% in the 4th quarter. JOYN Advisors Inc. now owns 836 shares of the bank’s stock valued at $34,000 after buying an additional 798 shares during the last quarter. 91.64% of the stock is owned by institutional investors.
Shares of ZION stock traded up $0.14 during mid-day trading on Wednesday, reaching $48.40. The stock had a trading volume of 111,479 shares, compared to its average volume of 2,467,426. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.91. Zions Bancorporation NA has a one year low of $38.08 and a one year high of $59.19. The company has a market capitalization of $9.16 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.33 and a beta of 1.48.
Zions Bancorporation NA (NASDAQ:ZION) last posted its earnings results on Tuesday, January 22nd. The bank reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $712.48 million. Zions Bancorporation NA had a return on equity of 12.57% and a net margin of 29.14%. During the same quarter last year, the company earned $0.80 EPS. Sell-side analysts predict that Zions Bancorporation NA will post 4.44 earnings per share for the current fiscal year.
In other Zions Bancorporation NA news, insider David E. Blackford sold 4,118 shares of Zions Bancorporation NA stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $50.86, for a total value of $209,441.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,237 shares of Zions Bancorporation NA stock in a transaction on Monday, January 28th. The shares were sold at an average price of $48.47, for a total value of $59,957.39. The disclosure for this sale can be found here. Insiders have sold a total of 31,225 shares of company stock valued at $1,537,180 in the last 90 days. 1.60% of the stock is owned by corporate insiders.
A number of analysts have issued reports on the company. JPMorgan Chase & Co. lowered Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $53.00 to $50.00 in a report on Thursday, April 4th. BidaskClub raised Zions Bancorporation NA from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th. ValuEngine lowered Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Vining Sparks reaffirmed a “buy” rating and issued a $63.00 target price on shares of Zions Bancorporation NA in a report on Thursday, January 24th. Finally, Wedbush raised their target price on Zions Bancorporation NA from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $55.18.
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.
Read More: Bond
Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zions Bancorporation NA (NASDAQ:ZION).
Receive News & Ratings for Zions Bancorporation NA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation NA and related companies with MarketBeat.com's FREE daily email newsletter.