TCW Group Inc. Lowers Holdings in Zions Bancorp (ZION)

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TCW Group Inc. reduced its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,467,866 shares of the bank’s stock after selling 234,239 shares during the period. TCW Group Inc. owned approximately 1.27% of Zions Bancorp worth $123,764,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. LPL Financial LLC lifted its stake in shares of Zions Bancorp by 126.3% in the 1st quarter. LPL Financial LLC now owns 25,327 shares of the bank’s stock worth $1,336,000 after acquiring an additional 14,135 shares during the period. IFM Investors Pty Ltd acquired a new stake in shares of Zions Bancorp in the 2nd quarter worth $285,000. State of Alaska Department of Revenue lifted its stake in shares of Zions Bancorp by 43.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 56,750 shares of the bank’s stock worth $2,988,000 after acquiring an additional 17,230 shares during the period. Trust Co acquired a new stake in shares of Zions Bancorp in the 1st quarter worth $313,000. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Zions Bancorp in the 2nd quarter worth $295,000. 94.73% of the stock is currently owned by institutional investors.

Shares of NASDAQ ZION traded down $0.32 during midday trading on Tuesday, hitting $46.72. The company had a trading volume of 470,278 shares, compared to its average volume of 2,784,092. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.13. Zions Bancorp has a twelve month low of $43.50 and a twelve month high of $59.19. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.08. Zions Bancorp had a net margin of 26.57% and a return on equity of 11.84%. The firm had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $699.87 million. During the same quarter last year, the business earned $0.72 earnings per share. Equities research analysts expect that Zions Bancorp will post 4.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Tuesday, November 13th. Zions Bancorp’s dividend payout ratio (DPR) is 41.96%.

Several research firms have recently commented on ZION. BidaskClub upgraded shares of Zions Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. BMO Capital Markets reduced their target price on shares of Zions Bancorp from $55.00 to $52.00 and set a “market perform” rating for the company in a research note on Tuesday, October 23rd. Barclays raised their target price on shares of Zions Bancorp from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Jefferies Financial Group restated a “buy” rating and issued a $60.00 target price on shares of Zions Bancorp in a research note on Friday, July 13th. Finally, Raymond James raised their target price on shares of Zions Bancorp from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Zions Bancorp presently has an average rating of “Hold” and a consensus price target of $58.19.

In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 945 shares of Zions Bancorp stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $52.73, for a total transaction of $49,829.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leeanne B. Linderman sold 5,006 shares of Zions Bancorp stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $53.62, for a total transaction of $268,421.72. The disclosure for this sale can be found here. Insiders sold 23,896 shares of company stock valued at $1,256,529 in the last quarter. Company insiders own 1.60% of the company’s stock.

Zions Bancorp 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.

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

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