Northern Trust Corp raised its position in shares of Zions Bancorp (NASDAQ:ZION) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 2,075,320 shares of the company’s stock after buying an additional 34,002 shares during the period. Northern Trust Corp’s holdings in Zions Bancorp were worth $64,376,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Zions Bancorp by 3.4% in the second quarter. Vanguard Group Inc. now owns 17,950,779 shares of the company’s stock worth $451,103,000 after buying an additional 596,109 shares in the last quarter. State Street Corp boosted its position in Zions Bancorp by 3.6% in the second quarter. State Street Corp now owns 10,955,604 shares of the company’s stock worth $275,313,000 after buying an additional 382,293 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Zions Bancorp by 2.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,408,399 shares of the company’s stock worth $167,769,000 after buying an additional 109,696 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Zions Bancorp by 0.3% in the second quarter. Thrivent Financial for Lutherans now owns 5,092,352 shares of the company’s stock worth $127,971,000 after buying an additional 15,640 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its position in Zions Bancorp by 772.6% in the second quarter. Artemis Investment Management LLP now owns 4,122,053 shares of the company’s stock worth $103,567,000 after buying an additional 3,649,671 shares in the last quarter. Hedge funds and other institutional investors own 86.10% of the company’s stock.
Shares of Zions Bancorp (NASDAQ:ZION) opened at 42.31 on Friday. The company has a market cap of $8.62 billion, a P/E ratio of 23.25 and a beta of 1.45. The stock’s 50 day moving average price is $42.78 and its 200 day moving average price is $33.56. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $44.33.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 24th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. Zions Bancorp had a return on equity of 6.35% and a net margin of 17.81%. During the same quarter last year, the business posted $0.41 EPS. On average, analysts forecast that Zions Bancorp will post $1.93 EPS for the current year.
A number of research analysts have issued reports on ZION shares. Jefferies Group reiterated a “hold” rating and issued a $41.00 target price (up previously from $35.00) on shares of Zions Bancorp in a research report on Wednesday, November 30th. Deutsche Bank AG boosted their price target on Zions Bancorp from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. Zacks Investment Research cut Zions Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 18th. RBC Capital Markets restated a “buy” rating on shares of Zions Bancorp in a report on Saturday, December 17th. Finally, Macquarie cut Zions Bancorp from an “outperform” rating to a “neutral” rating and set a $38.00 price target on the stock. in a report on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $38.14.
In related news, General Counsel Thomas E. Laursen sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $32.26, for a total transaction of $322,600.00. Following the transaction, the general counsel now directly owns 29,737 shares in the company, valued at approximately $959,315.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dianne R. James sold 630 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $39.82, for a total value of $25,086.60. Following the transaction, the insider now owns 17,854 shares in the company, valued at $710,946.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,483 shares of company stock worth $4,575,634. 2.06% of the stock is owned by corporate insiders.
Zions Bancorp Company Profile
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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).