Sawtooth Solutions LLC Has $363,000 Stake in Zions Bancorporation (ZION)

Sawtooth Solutions LLC grew its stake in Zions Bancorporation (NASDAQ:ZION) by 16.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,889 shares of the bank’s stock after purchasing an additional 956 shares during the period. Sawtooth Solutions LLC’s holdings in Zions Bancorporation were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Stansberry Asset Management LLC acquired a new position in shares of Zions Bancorporation in the 4th quarter worth approximately $2,946,000. HWG Holdings LP acquired a new position in shares of Zions Bancorporation in the 4th quarter worth approximately $1,656,000. Rhumbline Advisers boosted its holdings in shares of Zions Bancorporation by 1.1% in the 4th quarter. Rhumbline Advisers now owns 364,084 shares of the bank’s stock worth $18,506,000 after acquiring an additional 3,973 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Zions Bancorporation in the 4th quarter worth approximately $200,000. Finally, Macquarie Group Ltd. boosted its holdings in shares of Zions Bancorporation by 30.4% in the 4th quarter. Macquarie Group Ltd. now owns 260,031 shares of the bank’s stock worth $13,217,000 after acquiring an additional 60,578 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

ZION has been the topic of several recent analyst reports. DA Davidson reissued a “buy” rating and issued a $62.00 target price on shares of Zions Bancorporation in a report on Tuesday, January 23rd. Wells Fargo reissued an “outperform” rating and issued a $65.00 target price (up from $60.00) on shares of Zions Bancorporation in a report on Tuesday, January 23rd. Sanford C. Bernstein set a $58.00 target price on Zions Bancorporation and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Royal Bank of Canada boosted their target price on Zions Bancorporation to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 23rd. Finally, B. Riley reaffirmed a “buy” rating and set a $60.00 price objective on shares of Zions Bancorporation in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $57.59.

In other Zions Bancorporation news, insider Bruce K. Alexander sold 4,754 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $54.81, for a total transaction of $260,566.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Dan Stephens sold 7,100 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $54.87, for a total transaction of $389,577.00. The disclosure for this sale can be found here. Insiders have sold a total of 86,274 shares of company stock valued at $4,795,027 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Shares of Zions Bancorporation opened at $57.76 on Thursday, MarketBeat Ratings reports. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.60 and a beta of 1.39. Zions Bancorporation has a 52 week low of $57.24 and a 52 week high of $57.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81.

Zions Bancorporation (NASDAQ:ZION) last issued its earnings results on Monday, April 23rd. The bank reported $1.09 EPS for the quarter, beating the consensus estimate of $0.82 by $0.27. The company had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $666.12 million. Zions Bancorporation had a net margin of 24.49% and a return on equity of 10.41%. During the same quarter in the previous year, the company posted $0.61 EPS. sell-side analysts forecast that Zions Bancorporation will post 3.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 17th will be given a dividend of $0.24 per share. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, May 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.66%. Zions Bancorporation’s payout ratio is presently 27.97%.

Zions Bancorporation 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.

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

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