Zions Bancorp (NASDAQ:ZION) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 22,010,852 shares, a growth of 8.3% from the February 15th total of 20,330,784 shares. Approximately 11.0% of the shares of the company are short sold. Based on an average daily trading volume, of 2,217,637 shares, the short-interest ratio is presently 9.9 days.
In other news, insider Steven Dan Stephens sold 7,100 shares of Zions Bancorp stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $54.87, for a total value of $389,577.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Scott J. Mclean sold 31,309 shares of Zions Bancorp stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $56.15, for a total transaction of $1,758,000.35. The disclosure for this sale can be found here. Insiders have sold 57,224 shares of company stock valued at $3,156,817 in the last 90 days. 1.46% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB lifted its position in Zions Bancorp by 9.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 18,747 shares of the bank’s stock valued at $953,000 after purchasing an additional 1,614 shares during the last quarter. Delek Group Ltd. bought a new stake in shares of Zions Bancorp in the 4th quarter worth approximately $5,583,000. Sawtooth Solutions LLC bought a new stake in shares of Zions Bancorp in the 4th quarter worth approximately $302,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Zions Bancorp by 102.5% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the bank’s stock worth $412,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Divergent Wealth Advisors LLC bought a new stake in shares of Zions Bancorp in the 4th quarter worth approximately $204,000. Institutional investors and hedge funds own 94.63% of the company’s stock.
Zions Bancorp stock traded down $1.36 during mid-day trading on Monday, hitting $51.37. 2,243,611 shares of the company traded hands, compared to its average volume of 2,504,813. Zions Bancorp has a one year low of $38.43 and a one year high of $57.29. The firm has a market cap of $10,362.20, a PE ratio of 17.96, a PEG ratio of 1.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. The business had revenue of $665.00 million during the quarter, compared to analyst estimates of $670.55 million. During the same period in the previous year, the business posted $0.60 earnings per share. research analysts anticipate that Zions Bancorp will post 3.69 earnings per share for the current year.
Several research firms have recently weighed in on ZION. B. Riley reiterated a “buy” rating and issued a $60.00 target price on shares of Zions Bancorp in a research note on Tuesday, January 23rd. UBS started coverage on shares of Zions Bancorp in a research report on Wednesday, March 21st. They issued a “buy” rating and a $67.00 price objective for the company. Piper Jaffray restated a “hold” rating on shares of Zions Bancorp in a research report on Tuesday, March 6th. Raymond James Financial upgraded shares of Zions Bancorp from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Thursday, March 15th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein set a $58.00 price objective on shares of Zions Bancorp and gave the company a “hold” rating in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.67.
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Zions Bancorp 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.
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