Cleararc Capital Inc. purchased a new stake in Zions Bancorporation NA (NASDAQ:ZION) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,505 shares of the bank’s stock, valued at approximately $205,000.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Zions Bancorporation NA by 0.9% in the 4th quarter. BlackRock Inc. now owns 13,086,266 shares of the bank’s stock valued at $533,134,000 after purchasing an additional 115,951 shares in the last quarter. LSV Asset Management lifted its position in Zions Bancorporation NA by 86.9% during the 1st quarter. LSV Asset Management now owns 5,153,339 shares of the bank’s stock worth $234,013,000 after buying an additional 2,395,500 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Zions Bancorporation NA by 13.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,726,342 shares of the bank’s stock worth $192,552,000 after buying an additional 565,470 shares in the last quarter. Millennium Management LLC lifted its position in Zions Bancorporation NA by 154.7% during the 4th quarter. Millennium Management LLC now owns 3,913,496 shares of the bank’s stock worth $159,436,000 after buying an additional 2,376,929 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Zions Bancorporation NA by 3.7% during the 4th quarter. American Century Companies Inc. now owns 3,742,385 shares of the bank’s stock worth $152,465,000 after buying an additional 133,547 shares in the last quarter. 95.12% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on ZION shares. Zacks Investment Research cut Green Plains from a “hold” rating to a “strong sell” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. dropped their price objective on Realogy from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, ValuEngine cut Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Zions Bancorporation NA has an average rating of “Hold” and a consensus price target of $54.57.
Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Monday, April 22nd. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $715.64 million. Zions Bancorporation NA had a return on equity of 12.24% and a net margin of 27.58%. During the same period last year, the company earned $1.09 EPS. Analysts predict that Zions Bancorporation NA will post 4.44 EPS for the current year.
In other news, General Counsel Thomas E. Laursen sold 2,050 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $48.50, for a total value of $99,425.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Keith D. Maio sold 11,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $48.67, for a total value of $535,370.00. The disclosure for this sale can be found here. In the last three months, insiders sold 30,100 shares of company stock valued at $1,424,658. 1.70% of the stock is currently owned by insiders.
About Zions Bancorporation NA
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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