Zions Bancorp (ZION) General Counsel Sells $66,743.73 in Stock

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Zions Bancorp (NASDAQ:ZION) General Counsel Thomas E. Laursen sold 1,381 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $48.33, for a total value of $66,743.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of ZION stock traded up $0.53 on Tuesday, hitting $49.19. The company had a trading volume of 2,210,284 shares, compared to its average volume of 2,296,687. The stock has a market cap of $9.36 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.36. 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.

Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The business had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $699.87 million. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. During the same quarter in the previous year, the firm posted $0.72 EPS. Sell-side analysts anticipate that Zions Bancorp will post 4.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.44%. Zions Bancorp’s dividend payout ratio (DPR) is presently 41.96%.

Hedge funds have recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in shares of Zions Bancorp in the 2nd quarter valued at about $122,000. NumerixS Investment Technologies Inc purchased a new position in shares of Zions Bancorp in the 2nd quarter valued at about $158,000. Huntington National Bank increased its stake in shares of Zions Bancorp by 2,443.4% in the 3rd quarter. Huntington National Bank now owns 3,281 shares of the bank’s stock valued at $164,000 after purchasing an additional 3,152 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Zions Bancorp by 1,637.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock valued at $183,000 after purchasing an additional 3,275 shares in the last quarter. Finally, First Personal Financial Services purchased a new position in shares of Zions Bancorp in the 3rd quarter valued at about $191,000. 94.75% of the stock is owned by institutional investors and hedge funds.

ZION has been the topic of several research analyst reports. Morgan Stanley dropped their target price on Zions Bancorp from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. ValuEngine downgraded Zions Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Jefferies Financial Group restated a “buy” rating and set a $60.00 target price on shares of Zions Bancorp in a research note on Friday, July 13th. BidaskClub raised Zions Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 4th. Finally, BMO Capital Markets lowered their price target on Zions Bancorp from $55.00 to $52.00 and set a “market perform” rating for the company in a research report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $58.19.

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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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