State of Tennessee Treasury Department increased its position in shares of Zions Bancorporation NA (NASDAQ:ZION) by 14.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,804 shares of the bank’s stock after acquiring an additional 6,408 shares during the period. State of Tennessee Treasury Department’s holdings in Zions Bancorporation NA were worth $2,029,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of ZION. Smith Asset Management Group LP bought a new position in Zions Bancorporation NA in the 4th quarter valued at approximately $27,000. Doyle Wealth Management bought a new position in Zions Bancorporation NA in the 4th quarter valued at approximately $33,000. Pearl River Capital LLC bought a new position in Zions Bancorporation NA in the 4th quarter valued at approximately $61,000. ETF Managers Group LLC lifted its stake in Zions Bancorporation NA by 18.8% in the 4th quarter. ETF Managers Group LLC now owns 2,537 shares of the bank’s stock valued at $103,000 after purchasing an additional 402 shares during the last quarter. Finally, Enlightenment Research LLC bought a new position in Zions Bancorporation NA in the 4th quarter valued at approximately $122,000. 90.25% of the stock is owned by institutional investors and hedge funds.
In related news, insider David E. Blackford sold 2,027 shares of Zions Bancorporation NA stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $50.80, for a total transaction of $102,971.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce K. Alexander sold 5,169 shares of Zions Bancorporation NA stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $50.15, for a total transaction of $259,225.35. The disclosure for this sale can be found here. Insiders have sold 31,225 shares of company stock valued at $1,537,180 in the last ninety days. Insiders own 1.60% of the company’s stock.
Several equities analysts recently commented on ZION shares. Vining Sparks reissued a “buy” rating and issued a $63.00 price objective on shares of Zions Bancorporation NA in a research note on Thursday, January 24th. BidaskClub raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. ValuEngine raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research reissued a “hold” rating and issued a $43.00 price objective on shares of Zions Bancorporation NA in a research note on Monday, December 31st. Finally, Argus started coverage on shares of Zions Bancorporation NA in a research note on Monday, December 17th. They issued a “buy” rating and a $51.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Zions Bancorporation NA presently has an average rating of “Hold” and an average price target of $56.18.
ZION stock opened at $49.12 on Thursday. The firm has a market cap of $9.39 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.43 and a beta of 1.51. Zions Bancorporation NA has a 52-week low of $38.08 and a 52-week 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.
Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 22nd. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $712.48 million. Zions Bancorporation NA had a net margin of 29.14% and a return on equity of 12.57%. During the same quarter last year, the firm earned $0.80 earnings per share. On average, research analysts predict that Zions Bancorporation NA will post 4.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 21st. Stockholders of record on Thursday, February 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Wednesday, February 13th. Zions Bancorporation NA’s payout ratio is currently 29.41%.
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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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