Point72 Asset Management L.P. cut its holdings in Zions Bancorporation NA (NASDAQ:ZION) by 65.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,600 shares of the bank’s stock after selling 641,108 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.20% of Zions Bancorporation NA worth $17,476,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its stake in Zions Bancorporation NA by 454.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 566 shares of the bank’s stock worth $29,000 after acquiring an additional 464 shares in the last quarter. Thor Advisors LLC purchased a new position in shares of Zions Bancorporation NA during the third quarter valued at approximately $34,000. Ancora Advisors LLC bought a new stake in shares of Zions Bancorporation NA in the 4th quarter worth approximately $70,000. CWM LLC boosted its position in shares of Zions Bancorporation NA by 454.7% in the 4th quarter. CWM LLC now owns 1,875 shares of the bank’s stock worth $97,000 after purchasing an additional 1,537 shares in the last quarter. Finally, CFM Wealth Partners LLC bought a new stake in shares of Zions Bancorporation NA in the 4th quarter worth approximately $127,000. 99.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ ZION traded up $1.52 during trading on Thursday, reaching $27.37. 5,695,689 shares of the company traded hands, compared to its average volume of 3,544,412. The firm has a 50 day simple moving average of $37.92 and a 200-day simple moving average of $45.49. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.13 billion, a PE ratio of 6.56, a P/E/G ratio of 0.81 and a beta of 1.50. Zions Bancorporation NA has a 52-week low of $23.58 and a 52-week high of $52.48.
Zions Bancorporation NA (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.11). Zions Bancorporation NA had a net margin of 25.15% and a return on equity of 12.19%. The company had revenue of $711.00 million for the quarter, compared to the consensus estimate of $702.03 million. During the same quarter last year, the company earned $1.08 EPS. As a group, research analysts predict that Zions Bancorporation NA will post 4.05 EPS for the current year.
A number of research analysts recently weighed in on the company. Robert W. Baird raised Zions Bancorporation NA from an “underperform” rating to a “neutral” rating and set a $48.00 price objective for the company in a research report on Tuesday, January 28th. Morgan Stanley cut their target price on Zions Bancorporation NA from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 17th. SunTrust Banks raised their price target on Zions Bancorporation NA from $52.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Raymond James lowered their price target on Zions Bancorporation NA from $59.00 to $58.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Finally, BidaskClub cut shares of Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $50.41.
In other Zions Bancorporation NA news, VP Alan M. Forney sold 3,029 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $46.47, for a total transaction of $140,757.63. Following the completion of the sale, the vice president now directly owns 10,379 shares in the company, valued at approximately $482,312.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP A Scott Anderson sold 4,631 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $46.20, for a total value of $213,952.20. Following the sale, the vice president now owns 35,847 shares of the company’s stock, valued at $1,656,131.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,660 shares of company stock valued at $715,990. Company insiders own 1.70% of the company’s stock.
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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