California Public Employees Retirement System grew its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 584,775 shares of the bank’s stock after buying an additional 2,763 shares during the period. California Public Employees Retirement System’s holdings in Zions Bancorp were worth $29,724,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Zions Bancorp by 2,081.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock valued at $152,000 after buying an additional 2,872 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in Zions Bancorp in the 4th quarter worth about $157,000. RNC Capital Management LLC bought a new position in Zions Bancorp in the 4th quarter worth about $203,000. Conning Inc. bought a new position in Zions Bancorp in the 3rd quarter worth about $210,000. Finally, Janney Montgomery Scott LLC bought a new position in Zions Bancorp in the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.
Zions Bancorp (ZION) opened at $55.07 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $11,060.00, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.62 and a beta of 1.45. Zions Bancorp has a one year low of $38.43 and a one year high of $55.61.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 annualized dividend and a yield of 1.45%. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s dividend payout ratio is currently 30.53%.
A number of equities analysts recently issued reports on ZION shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $60.00 price target on shares of Zions Bancorp in a research note on Friday, December 22nd. Morgan Stanley upped their price target on shares of Zions Bancorp from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Piper Jaffray Companies reiterated a “hold” rating and issued a $49.00 price target on shares of Zions Bancorp in a research note on Tuesday, January 9th. BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $55.22.
In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 1,250 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $54.28, for a total transaction of $67,850.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Keith D. Maio sold 13,019 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total transaction of $604,602.36. The disclosure for this sale can be found here. Insiders have sold a total of 58,040 shares of company stock worth $2,806,600 in the last 90 days. Company insiders own 1.46% of the company’s stock.
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Zions Bancorp 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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