Russell Investments Group Ltd. Sells 36,838 Shares of Zions Bancorporation (ZION)

Russell Investments Group Ltd. cut its holdings in Zions Bancorporation (NASDAQ:ZION) by 19.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,107 shares of the bank’s stock after selling 36,838 shares during the period. Russell Investments Group Ltd. owned 0.08% of Zions Bancorporation worth $7,174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Balyasny Asset Management LLC raised its position in shares of Zions Bancorporation by 705.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock valued at $139,918,000 after purchasing an additional 2,791,044 shares during the period. Artemis Investment Management LLP raised its position in shares of Zions Bancorporation by 332.1% during the 3rd quarter. Artemis Investment Management LLP now owns 1,751,662 shares of the bank’s stock valued at $82,635,000 after purchasing an additional 1,346,240 shares during the period. Cramer Rosenthal Mcglynn LLC raised its position in shares of Zions Bancorporation by 276.0% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock valued at $80,080,000 after purchasing an additional 1,338,748 shares during the period. Janus Henderson Group PLC raised its position in shares of Zions Bancorporation by 16,303.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock valued at $54,056,000 after purchasing an additional 1,223,566 shares during the period. Finally, State Street Corp raised its position in shares of Zions Bancorporation by 8.7% during the 2nd quarter. State Street Corp now owns 12,373,314 shares of the bank’s stock valued at $543,315,000 after purchasing an additional 986,548 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

In other Zions Bancorporation news, insider Bruce K. Alexander sold 6,089 shares of Zions Bancorporation stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total value of $292,089.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith D. Maio sold 13,019 shares of Zions Bancorporation stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total transaction of $604,602.36. The disclosure for this sale can be found here. Insiders sold a total of 43,979 shares of company stock valued at $2,057,927 over the last three months. Corporate insiders own 1.46% of the company’s stock.

ZION has been the topic of several recent analyst reports. Jefferies Group restated a “buy” rating and set a $49.00 price objective on shares of Zions Bancorporation in a research report on Friday, September 15th. Bank of America upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $50.00 to $52.00 in a research report on Wednesday, August 16th. FBR & Co restated a “buy” rating and set a $54.00 price objective on shares of Zions Bancorporation in a research report on Tuesday, October 24th. B. Riley set a $54.00 price objective on shares of Zions Bancorporation and gave the company a “buy” rating in a research report on Monday, November 20th. Finally, BidaskClub upgraded shares of Zions Bancorporation from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Zions Bancorporation presently has an average rating of “Hold” and an average target price of $49.84.

Zions Bancorporation (NASDAQ ZION) opened at $50.93 on Friday. The firm has a market cap of $10,170.00, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.93 and a beta of 1.48. Zions Bancorporation has a 52 week low of $38.43 and a 52 week high of $52.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation (NASDAQ:ZION) last posted its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The company had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $666.83 million. Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. During the same period in the previous year, the business posted $0.57 earnings per share. equities analysts predict that Zions Bancorporation will post 2.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.26%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, November 14th. Zions Bancorporation’s dividend payout ratio (DPR) is presently 23.97%.

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Zions Bancorporation Company 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.

Institutional Ownership by Quarter for Zions Bancorporation (NASDAQ:ZION)

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