Teacher Retirement System of Texas boosted its stake in shares of Zions Bancorp (NASDAQ:ZION) by 2.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,044 shares of the bank’s stock after acquiring an additional 3,345 shares during the period. Teacher Retirement System of Texas owned 0.08% of Zions Bancorp worth $8,070,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of ZION. Crewe Advisors LLC purchased a new position in shares of Zions Bancorp in the 4th quarter worth $102,000. Centaurus Financial Inc. purchased a new position in shares of Zions Bancorp in the 1st quarter worth $106,000. Delpha Capital Management LLC purchased a new position in shares of Zions Bancorp in the 4th quarter worth $107,000. NuWave Investment Management LLC grew its stake in shares of Zions Bancorp by 306.4% in the 1st quarter. NuWave Investment Management LLC now owns 2,089 shares of the bank’s stock worth $109,000 after buying an additional 1,575 shares in the last quarter. Finally, G&S Capital LLC purchased a new position in shares of Zions Bancorp in the 4th quarter worth $115,000. 93.26% of the stock is owned by institutional investors and hedge funds.
In related news, General Counsel Thomas E. Laursen sold 1,400 shares of Zions Bancorp stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $55.17, for a total transaction of $77,238.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott J. Mclean sold 31,309 shares of Zions Bancorp stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $56.15, for a total transaction of $1,758,000.35. The disclosure for this sale can be found here. Insiders have sold a total of 81,520 shares of company stock valued at $4,534,461 in the last quarter. 1.60% of the stock is currently owned by company insiders.
Shares of ZION opened at $58.41 on Wednesday. Zions Bancorp has a 1-year low of $39.34 and a 1-year high of $59.19. The stock has a market cap of $11.42 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.59 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 23rd. The bank reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.27. Zions Bancorp had a net margin of 24.49% and a return on equity of 10.41%. The company had revenue of $680.00 million during the quarter, compared to analyst estimates of $666.12 million. During the same quarter last year, the business posted $0.61 EPS. research analysts forecast that Zions Bancorp will post 3.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Thursday, May 17th will be issued a dividend of $0.24 per share. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $0.96 dividend on an annualized basis and a yield of 1.64%. Zions Bancorp’s dividend payout ratio (DPR) is presently 33.57%.
ZION has been the subject of several analyst reports. Wedbush initiated coverage on shares of Zions Bancorp in a report on Monday, May 14th. They issued a “neutral” rating and a $62.00 target price for the company. Susquehanna Bancshares set a $54.00 target price on shares of Zions Bancorp and gave the stock a “hold” rating in a report on Monday, April 23rd. BidaskClub upgraded shares of Zions Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, April 27th. Piper Jaffray Companies restated a “hold” rating on shares of Zions Bancorp in a report on Tuesday, April 24th. Finally, BMO Capital Markets lowered their target price on shares of Zions Bancorp from $60.00 to $57.00 and set a “market perform” rating for the company in a report on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Zions Bancorp currently has an average rating of “Buy” and an average price target of $57.59.
About Zions Bancorp
Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.
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