Teacher Retirement System of Texas increased its stake in Zions Bancorp (NASDAQ:ZION) by 106.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,699 shares of the bank’s stock after buying an additional 77,138 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of Zions Bancorp worth $7,609,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZION. Ameriprise Financial Inc. boosted its holdings in shares of Zions Bancorp by 146.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,698,958 shares of the bank’s stock valued at $127,330,000 after buying an additional 1,605,540 shares during the last quarter. Artemis Investment Management LLP boosted its holdings in shares of Zions Bancorp by 332.1% in the 3rd quarter. Artemis Investment Management LLP now owns 1,751,662 shares of the bank’s stock valued at $82,635,000 after buying an additional 1,346,240 shares during the last quarter. Cortland Advisers LLC boosted its holdings in shares of Zions Bancorp by 49.6% in the 3rd quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock valued at $150,006,000 after buying an additional 1,053,900 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Zions Bancorp by 54.8% in the 3rd quarter. First Trust Advisors LP now owns 1,231,065 shares of the bank’s stock valued at $58,082,000 after buying an additional 435,638 shares during the last quarter. Finally, Key Square Capital Management LLC acquired a new stake in shares of Zions Bancorp in the 4th quarter valued at approximately $18,697,000. 93.46% of the stock is owned by institutional investors.
Shares of Zions Bancorp (ZION) opened at $54.51 on Thursday. Zions Bancorp has a 12 month low of $38.43 and a 12 month high of $55.61. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $10,890.00, a price-to-earnings ratio of 20.81, a P/E/G ratio of 1.54 and a beta of 1.45.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th will be given a dividend of $0.20 per share. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.80 annualized dividend and a yield of 1.47%. Zions Bancorp’s dividend payout ratio (DPR) is presently 24.43%.
ZION has been the subject of several recent analyst reports. Zacks Investment Research raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Wednesday, December 27th. Keefe, Bruyette & Woods raised Zions Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. Wells Fargo & Co reissued an “outperform” rating and issued a $65.00 price objective (up previously from $60.00) on shares of Zions Bancorp in a report on Tuesday, January 23rd. Barclays increased their price objective on Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, BidaskClub downgraded Zions Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.22.
In other Zions Bancorp news, EVP Keith D. Maio sold 13,019 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total transaction of $604,602.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph L. Reilly sold 23,271 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total value of $1,086,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 56,540 shares of company stock worth $2,725,225 in the last quarter. Company insiders own 1.46% of the company’s stock.
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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