MetLife Investment Advisors LLC cut its holdings in shares of Zions Bancorporation NA (NASDAQ:ZION) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,916 shares of the bank’s stock after selling 2,041 shares during the period. MetLife Investment Advisors LLC’s holdings in Zions Bancorporation NA were worth $2,403,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ZION. LSV Asset Management increased its position in shares of Zions Bancorporation NA by 86.9% in the 1st quarter. LSV Asset Management now owns 5,153,339 shares of the bank’s stock valued at $234,013,000 after acquiring an additional 2,395,500 shares during the period. Millennium Management LLC boosted its stake in shares of 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 acquiring an additional 2,376,929 shares in the last quarter. Norges Bank purchased a new stake in shares of Zions Bancorporation NA during the 4th quarter worth about $71,781,000. Clark Capital Management Group Inc. boosted its stake in shares of Zions Bancorporation NA by 3,378.7% during the 1st quarter. Clark Capital Management Group Inc. now owns 589,599 shares of the bank’s stock worth $26,774,000 after acquiring an additional 572,650 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of 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 acquiring an additional 565,470 shares in the last quarter. 95.12% of the stock is currently owned by institutional investors and hedge funds.
ZION has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Zacks Investment Research downgraded shares of Green Plains from a “hold” rating to a “strong sell” rating in a report on Thursday, June 27th. ValuEngine downgraded shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Finally, BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $54.15.
Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.01). The firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations 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 firm posted $1.09 earnings per share. On average, equities analysts forecast that Zions Bancorporation NA will post 4.43 earnings per share for the current year.
In other news, insider David E. Blackford sold 2,312 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $45.13, for a total transaction of $104,340.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider A Scott Anderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. The disclosure for this sale can be found here. Insiders sold 30,100 shares of company stock worth $1,424,658 in the last ninety days. Insiders own 1.70% of the company’s stock.
Zions Bancorporation NA 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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