State of Alaska Department of Revenue Trims Stock Holdings in Zions Bancorporation NA (NASDAQ:ZION)

State of Alaska Department of Revenue lowered its holdings in Zions Bancorporation NA (NASDAQ:ZION) by 16.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,909 shares of the bank’s stock after selling 9,777 shares during the period. State of Alaska Department of Revenue’s holdings in Zions Bancorporation NA were worth $2,294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ZION. Advisor Group Inc. raised its position in shares of Zions Bancorporation NA by 15.9% during the fourth quarter. Advisor Group Inc. now owns 4,213 shares of the bank’s stock valued at $172,000 after buying an additional 578 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Zions Bancorporation NA by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,828,645 shares of the bank’s stock valued at $115,238,000 after buying an additional 41,191 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Zions Bancorporation NA by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,744,047 shares of the bank’s stock valued at $111,615,000 after buying an additional 76,349 shares during the last quarter. Norges Bank bought a new stake in shares of Zions Bancorporation NA during the fourth quarter valued at approximately $71,781,000. Finally, Deutsche Bank AG raised its position in shares of Zions Bancorporation NA by 32.0% during the fourth quarter. Deutsche Bank AG now owns 628,224 shares of the bank’s stock valued at $25,590,000 after buying an additional 152,170 shares during the last quarter. 94.78% of the stock is owned by hedge funds and other institutional investors.

ZION has been the topic of several research reports. Barclays reduced their price target on shares of Zions Bancorporation NA from $60.00 to $56.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. SunTrust Banks reduced their price target on shares of Zions Bancorporation NA to $52.00 and set a “reduce” rating on the stock in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. BidaskClub upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Co cut shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $62.00 to $50.00 in a research report on Monday, July 22nd. Finally, Zacks Investment Research cut shares of Zions Bancorporation NA from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.73.

In other Zions Bancorporation NA news, insider A Scott Anderson sold 10,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James R. Abbott sold 1,988 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $45.83, for a total transaction of $91,110.04. The disclosure for this sale can be found here. Insiders have sold 39,029 shares of company stock worth $1,786,981 in the last quarter. Company insiders own 1.70% of the company’s stock.

ZION stock traded down $0.39 during mid-day trading on Friday, reaching $42.55. 2,919,660 shares of the stock traded hands, compared to its average volume of 2,554,445. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation NA has a one year low of $38.08 and a one year high of $54.76. The firm has a market cap of $7.84 billion, a PE ratio of 10.43, a PEG ratio of 1.09 and a beta of 1.49. The company has a 50-day simple moving average of $45.10.

Zions Bancorporation NA (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.10). Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. The firm had revenue of $701.00 million for the quarter, compared to the consensus estimate of $723.21 million. During the same quarter last year, the firm earned $0.89 EPS. As a group, equities analysts anticipate that Zions Bancorporation NA will post 4.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be given a dividend of $0.34 per share. This is a boost from Zions Bancorporation NA’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a yield of 3.20%. Zions Bancorporation NA’s payout ratio is 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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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

Receive News & Ratings for Zions Bancorporation NA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation NA and related companies with MarketBeat.com's FREE daily email newsletter.