California State Teachers Retirement System lessened its stake in shares of Zions Bancorporation (NASDAQ:ZION) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 376,680 shares of the bank’s stock after selling 35,867 shares during the quarter. California State Teachers Retirement System owned about 0.19% of Zions Bancorporation worth $16,540,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in ZION. UBS Asset Management Americas Inc. lifted its position in shares of Zions Bancorporation by 5.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 161,604 shares of the bank’s stock worth $6,787,000 after acquiring an additional 8,307 shares during the period. Credit Agricole S A lifted its position in shares of Zions Bancorporation by 122.5% in the 1st quarter. Credit Agricole S A now owns 35,968 shares of the bank’s stock worth $1,511,000 after acquiring an additional 19,800 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Zions Bancorporation by 17.6% in the 1st quarter. OppenheimerFunds Inc. now owns 8,150 shares of the bank’s stock worth $342,000 after acquiring an additional 1,219 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Zions Bancorporation by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 315,240 shares of the bank’s stock worth $13,239,000 after buying an additional 2,072 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Zions Bancorporation by 10.2% in the 1st quarter. FMR LLC now owns 639,029 shares of the bank’s stock worth $26,840,000 after buying an additional 59,398 shares in the last quarter. Hedge funds and other institutional investors own 92.28% of the company’s stock.
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A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Zions Bancorporation from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of Zions Bancorporation in a report on Thursday, October 12th. Royal Bank Of Canada raised their price target on Zions Bancorporation from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 price objective on shares of Zions Bancorporation in a research report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 price objective on shares of Zions Bancorporation in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $48.00.
Zions Bancorporation (NASDAQ:ZION) traded up 0.38% during trading on Friday, hitting $47.11. 2,395,516 shares of the stock were exchanged. The stock has a 50 day moving average of $45.53 and a 200-day moving average of $43.40. The stock has a market cap of $9.52 billion, a P/E ratio of 18.75 and a beta of 1.44. Zions Bancorporation has a 52 week low of $30.85 and a 52 week high of $48.33.
Zions Bancorporation (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. The firm had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $666.83 million. During the same period last year, the company earned $0.57 earnings per share. Equities analysts expect that Zions Bancorporation will post $2.80 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th will be given a dividend of $0.16 per share. This is a positive change from Zions Bancorporation’s previous quarterly dividend of $0.12. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. Zions Bancorporation’s dividend payout ratio is currently 18.05%.
In other Zions Bancorporation news, insider Edward Schreiber sold 13,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $44.98, for a total transaction of $584,740.00. Following the completion of the transaction, the insider now owns 51,517 shares in the company, valued at $2,317,234.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger B. Porter bought 1,616 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average price of $43.99 per share, with a total value of $71,087.84. Following the acquisition, the director now directly owns 42,001 shares in the company, valued at approximately $1,847,623.99. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,585 shares of company stock valued at $793,994. 1.46% of the stock is owned by company insiders.
Zions Bancorporation 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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