Public Sector Pension Investment Board increased its stake in shares of Zions Bancorporation NA (NASDAQ:ZION) by 96.6% during the fourth quarter, HoldingsChannel reports. The fund owned 67,581 shares of the bank’s stock after buying an additional 33,210 shares during the period. Public Sector Pension Investment Board’s holdings in Zions Bancorporation NA were worth $3,509,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Zions Bancorporation NA by 3.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 26,480 shares of the bank’s stock worth $1,375,000 after acquiring an additional 909 shares during the period. Point72 Asset Management L.P. grew its position in shares of Zions Bancorporation NA by 327.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 977,708 shares of the bank’s stock valued at $43,528,000 after acquiring an additional 749,108 shares during the period. Sunbelt Securities Inc. bought a new position in shares of Zions Bancorporation NA in the 3rd quarter valued at about $370,000. Voya Investment Management LLC grew its position in shares of Zions Bancorporation NA by 28.5% in the 3rd quarter. Voya Investment Management LLC now owns 1,828,597 shares of the bank’s stock valued at $81,409,000 after acquiring an additional 405,677 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of Zions Bancorporation NA by 28.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,442,096 shares of the bank’s stock valued at $64,202,000 after acquiring an additional 319,217 shares during the period. Institutional investors and hedge funds own 99.06% of the company’s stock.
A number of research analysts have recently commented on ZION shares. BidaskClub downgraded shares of Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 28th. Morgan Stanley reduced their target price on shares of Zions Bancorporation NA from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, March 17th. Evercore ISI initiated coverage on shares of Zions Bancorporation NA in a report on Friday, February 7th. They set a “hold” rating and a $53.00 target price for the company. Janney Montgomery Scott downgraded shares of Zions Bancorporation NA from a “buy” rating to a “neutral” rating in a report on Wednesday, January 22nd. Finally, SunTrust Banks lifted their target price on shares of Zions Bancorporation NA from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Zions Bancorporation NA currently has a consensus rating of “Hold” and an average target price of $50.41.
Zions Bancorporation NA (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.11). The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $702.03 million. Zions Bancorporation NA had a net margin of 25.15% and a return on equity of 12.19%. During the same period in the prior year, the firm earned $1.08 EPS. Analysts expect that Zions Bancorporation NA will post 4.05 EPS for the current year.
In other news, EVP Steven Dan Stephens sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.16, for a total value of $361,280.00. Following the completion of the transaction, the executive vice president now directly owns 73,465 shares in the company, valued at approximately $3,317,679.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP A Scott Anderson sold 4,631 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $46.20, for a total transaction of $213,952.20. Following the completion of the transaction, the vice president now owns 35,847 shares of the company’s stock, valued at $1,656,131.40. The disclosure for this sale can be found here. Insiders sold a total of 15,660 shares of company stock valued at $715,990 in the last three months. Insiders own 1.70% of the company’s stock.
Zions Bancorporation NA Profile
Zions Bancorporation, National Association provides various 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; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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