Shelton Capital Management Invests $3.34 Million in Zions Bancorp (ZION) Stock

Shelton Capital Management bought a new position in Zions Bancorp (NASDAQ:ZION) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 70,726 shares of the bank’s stock, valued at approximately $3,337,000.

Other hedge funds also recently modified their holdings of the company. Cetera Advisor Networks LLC lifted its position in shares of Zions Bancorp by 9.4% in the 3rd quarter. Cetera Advisor Networks LLC now owns 16,597 shares of the bank’s stock worth $784,000 after purchasing an additional 1,423 shares during the period. California Public Employees Retirement System lifted its position in Zions Bancorp by 1.1% during the third quarter. California Public Employees Retirement System now owns 582,012 shares of the bank’s stock valued at $27,459,000 after acquiring an additional 6,412 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Zions Bancorp during the third quarter valued at approximately $212,000. Cubist Systematic Strategies LLC purchased a new stake in Zions Bancorp during the third quarter valued at approximately $513,000. Finally, Beacon Investment Advisory Services Inc. purchased a new position in shares of Zions Bancorp in the third quarter worth $425,000. Institutional investors and hedge funds own 92.54% of the company’s stock.

In other news, EVP Keith D. Maio sold 13,019 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total transaction of $604,602.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce K. Alexander sold 6,089 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total transaction of $292,089.33. The disclosure for this sale can be found here. Insiders have sold a total of 43,979 shares of company stock valued at $2,057,927 in the last quarter. 1.46% of the stock is currently owned by company insiders.

A number of research analysts have issued reports on ZION shares. B. Riley set a $54.00 price target on shares of Zions Bancorp and gave the stock a “buy” rating in a report on Monday, November 20th. FBR & Co reiterated a “buy” rating and issued a $54.00 price objective on shares of Zions Bancorp in a research note on Tuesday, October 24th. Jefferies Group restated a “buy” rating and set a $54.00 price target on shares of Zions Bancorp in a research report on Thursday, October 12th. BidaskClub upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $60.00 price target on shares of Zions Bancorp in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $51.16.

Shares of Zions Bancorp (NASDAQ:ZION) traded down $0.51 on Friday, hitting $50.83. 1,260,000 shares of the company’s stock were exchanged, compared to its average volume of 2,190,000. Zions Bancorp has a 1-year low of $38.43 and a 1-year high of $52.20. The firm has a market capitalization of $10,150.00, a PE ratio of 19.04, a PEG ratio of 1.98 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $661.00 million during the quarter, compared to analyst estimates of $666.83 million. Zions Bancorp had a net margin of 22.70% and a return on equity of 8.54%. During the same quarter last year, the firm posted $0.57 EPS. equities analysts forecast that Zions Bancorp will post 2.8 earnings per share for the current year.

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About Zions Bancorp

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.

Institutional Ownership by Quarter for Zions Bancorp (NASDAQ:ZION)

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