APG Asset Management N.V. increased its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,300 shares of the bank’s stock after purchasing an additional 6,800 shares during the quarter. APG Asset Management N.V.’s holdings in Zions Bancorp were worth $2,806,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ZION. Wells Fargo & Company MN grew its holdings in Zions Bancorp by 4.0% during the 3rd quarter. Wells Fargo & Company MN now owns 2,255,672 shares of the bank’s stock valued at $106,423,000 after buying an additional 87,108 shares in the last quarter. HWG Holdings LP purchased a new position in Zions Bancorp during the 4th quarter valued at approximately $1,656,000. Korea Investment CORP grew its holdings in Zions Bancorp by 13.6% during the 3rd quarter. Korea Investment CORP now owns 147,400 shares of the bank’s stock valued at $6,954,000 after buying an additional 17,600 shares in the last quarter. TCW Group Inc. grew its holdings in Zions Bancorp by 1.0% during the 3rd quarter. TCW Group Inc. now owns 2,953,568 shares of the bank’s stock valued at $139,349,000 after buying an additional 28,685 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Zions Bancorp by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 1,002,859 shares of the bank’s stock valued at $47,317,000 after buying an additional 40,278 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.
Shares of Zions Bancorp (ZION) opened at $54.51 on Thursday. Zions Bancorp has a one year low of $38.43 and a one year high of $55.61. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $10,263.76, a P/E ratio of 20.97, a P/E/G ratio of 1.54 and a beta of 1.45.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 15th will be paid a dividend of $0.20 per share. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, February 14th. Zions Bancorp’s dividend payout ratio (DPR) is currently 24.62%.
Several equities analysts have weighed in on the company. Royal Bank of Canada raised their price target on Zions Bancorp from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. Wells Fargo & Co restated an “outperform” rating and set a $65.00 price target (up previously from $60.00) on shares of Zions Bancorp in a report on Tuesday, January 23rd. BidaskClub cut Zions Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Barclays lifted their target price on Zions Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $44.00 target price on shares of Zions Bancorp in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Zions Bancorp currently has an average rating of “Buy” and a consensus target price of $55.22.
In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 1,600 shares of Zions Bancorp stock in a transaction on Monday, November 27th. The stock was sold at an average price of $46.55, for a total transaction of $74,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander Hume sold 7,196 shares of Zions Bancorp stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $53.87, for a total value of $387,648.52. The disclosure for this sale can be found here. Insiders have sold a total of 56,540 shares of company stock valued at $2,725,225 over the last three months. 1.46% of the stock is owned by corporate insiders.
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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