First Hawaiian Bank Lowers Stake in Zions Bancorporation NA (NASDAQ:ZION)

First Hawaiian Bank lowered its position in shares of Zions Bancorporation NA (NASDAQ:ZION) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,033 shares of the bank’s stock after selling 384 shares during the quarter. First Hawaiian Bank’s holdings in Zions Bancorporation NA were worth $1,749,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nisa Investment Advisors LLC raised its holdings in shares of Zions Bancorporation NA by 20.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 67,636 shares of the bank’s stock worth $3,110,000 after acquiring an additional 11,644 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Zions Bancorporation NA by 15.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 230,000 shares of the bank’s stock worth $10,575,000 after acquiring an additional 30,000 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Zions Bancorporation NA in the 2nd quarter worth about $427,000. Valeo Financial Advisors LLC raised its holdings in shares of Zions Bancorporation NA by 48.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock worth $41,000 after acquiring an additional 295 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in shares of Zions Bancorporation NA by 4.8% in the 2nd quarter. Douglas Lane & Associates LLC now owns 245,188 shares of the bank’s stock worth $11,274,000 after acquiring an additional 11,129 shares during the last quarter. 95.25% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on the stock. BMO Capital Markets decreased their price objective on shares of Zions Bancorporation NA to $47.00 and set a “market perform” rating for the company in a research note on Tuesday, July 23rd. Wells Fargo & Co lowered shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $62.00 to $50.00 in a research note on Monday, July 22nd. Keefe, Bruyette & Woods lowered shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $53.00 to $47.00 in a research note on Tuesday, July 23rd. SunTrust Banks decreased their price objective on shares of Zions Bancorporation NA to $52.00 and set a “reduce” rating for the company in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, Barclays decreased their price objective on shares of Zions Bancorporation NA from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.56.

In related news, insider A Scott Anderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $44.92, for a total value of $449,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander Hume sold 9,929 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $45.17, for a total transaction of $448,492.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,615 shares of company stock valued at $1,197,961. 1.70% of the stock is currently owned by company insiders.

Shares of ZION stock opened at $39.20 on Friday. The company has a 50 day moving average of $44.27 and a 200-day moving average of $46.54. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.18. Zions Bancorporation NA has a 12-month low of $38.08 and a 12-month high of $54.76. The firm has a market cap of $7.30 billion, a P/E ratio of 9.61, a PEG ratio of 1.21 and a beta of 1.49.

Zions Bancorporation NA (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.10). Zions Bancorporation NA had a return on equity of 12.26% and a net margin of 26.99%. The company had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $723.21 million. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, equities analysts expect that Zions Bancorporation NA will post 4.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.47%. This is a positive change from Zions Bancorporation NA’s previous quarterly dividend of $0.30. Zions Bancorporation NA’s dividend payout ratio (DPR) is presently 29.41%.

Zions Bancorporation NA 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.

See Also: Example of operating income, EBIT and EBITDA

Institutional Ownership by Quarter for Zions Bancorporation NA (NASDAQ:ZION)

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