State Board of Administration of Florida Retirement System boosted its stake in Zions Bancorporation NA (NASDAQ:ZION) by 7.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 331,379 shares of the bank’s stock after acquiring an additional 23,877 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.17% of Zions Bancorporation NA worth $13,500,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the business. First Mercantile Trust Co. lifted its holdings in Zions Bancorporation NA by 6.3% in the 4th quarter. First Mercantile Trust Co. now owns 8,295 shares of the bank’s stock valued at $338,000 after purchasing an additional 490 shares in the last quarter. Radnor Capital Management LLC lifted its holdings in Zions Bancorporation NA by 7.6% in the 4th quarter. Radnor Capital Management LLC now owns 8,485 shares of the bank’s stock valued at $346,000 after purchasing an additional 600 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Zions Bancorporation NA by 4.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 19,830 shares of the bank’s stock valued at $808,000 after purchasing an additional 818 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Zions Bancorporation NA by 15.8% in the 4th quarter. D.A. Davidson & CO. now owns 6,021 shares of the bank’s stock valued at $245,000 after purchasing an additional 823 shares in the last quarter. Finally, Callahan Advisors LLC lifted its holdings in Zions Bancorporation NA by 10.8% in the 4th quarter. Callahan Advisors LLC now owns 10,138 shares of the bank’s stock valued at $413,000 after purchasing an additional 988 shares in the last quarter. Institutional investors own 94.54% of the company’s stock.
Shares of NASDAQ ZION traded up $0.30 during trading on Monday, hitting $49.34. 392,628 shares of the company were exchanged, compared to its average volume of 2,943,884. Zions Bancorporation NA has a 12-month low of $38.08 and a 12-month high of $59.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market cap of $9.42 billion, a PE ratio of 12.09, a P/E/G ratio of 1.37 and a beta of 1.51.
Zions Bancorporation NA (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, January 22nd. The bank reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $712.48 million. Zions Bancorporation NA had a return on equity of 12.57% and a net margin of 29.14%. During the same quarter in the previous year, the firm earned $0.80 EPS. Research analysts expect that Zions Bancorporation NA will post 4.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 21st. Investors of record on Thursday, February 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, February 13th. Zions Bancorporation NA’s payout ratio is 29.41%.
A number of brokerages have weighed in on ZION. Zacks Investment Research upgraded Zions Bancorporation NA from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Wednesday, October 24th. ValuEngine upgraded Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. BidaskClub upgraded Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Vining Sparks reiterated a “buy” rating and set a $63.00 price target on shares of Zions Bancorporation NA in a report on Thursday, January 24th. Finally, Wedbush lifted their price target on Zions Bancorporation NA from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, January 23rd. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Zions Bancorporation NA currently has an average rating of “Buy” and an average target price of $56.79.
In related news, General Counsel Thomas E. Laursen sold 1,237 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $48.47, for a total transaction of $59,957.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Dan Stephens sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $48.20, for a total value of $385,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,983 shares of company stock valued at $819,534 over the last three months. Corporate insiders own 1.60% of the company’s stock.
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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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