State Board of Administration of Florida Retirement System increased its holdings in shares of Zions Bancorporation NA (NASDAQ:ZION) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 331,379 shares of the bank’s stock after purchasing an additional 23,877 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Zions Bancorporation NA were worth $13,500,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. First Mercantile Trust Co. lifted its stake in Zions Bancorporation NA by 6.3% during the fourth quarter. First Mercantile Trust Co. now owns 8,295 shares of the bank’s stock worth $338,000 after purchasing an additional 490 shares during the last quarter. Radnor Capital Management LLC lifted its stake in Zions Bancorporation NA by 7.6% during the fourth quarter. Radnor Capital Management LLC now owns 8,485 shares of the bank’s stock worth $346,000 after purchasing an additional 600 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Zions Bancorporation NA by 4.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 19,830 shares of the bank’s stock worth $808,000 after purchasing an additional 818 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Zions Bancorporation NA by 15.8% during the fourth quarter. D.A. Davidson & CO. now owns 6,021 shares of the bank’s stock worth $245,000 after purchasing an additional 823 shares during the last quarter. Finally, Callahan Advisors LLC lifted its stake in Zions Bancorporation NA by 10.8% during the fourth quarter. Callahan Advisors LLC now owns 10,138 shares of the bank’s stock worth $413,000 after purchasing an additional 988 shares during the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

ZION has been the subject of several recent analyst reports. Deutsche Bank decreased their target price on Zions Bancorporation NA from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, October 23rd. Raymond James decreased their target price on Zions Bancorporation NA from $62.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, October 23rd. SunTrust Banks boosted their target price on Zions Bancorporation NA to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Argus initiated coverage on Zions Bancorporation NA in a research note on Monday, December 17th. They set a “buy” rating and a $51.00 target price for the company. Finally, Zacks Investment Research upgraded Zions Bancorporation NA from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, October 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.79.

NASDAQ ZION traded up $0.30 on Monday, reaching $49.34. The stock had a trading volume of 392,628 shares, compared to its average volume of 2,943,884. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Zions Bancorporation NA has a 12-month low of $38.08 and a 12-month high of $59.19. The stock has a market cap of $9.42 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.37 and a beta of 1.51.

Zions Bancorporation NA (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, January 22nd. The bank reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. Zions Bancorporation NA had a return on equity of 12.57% and a net margin of 29.14%. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $712.48 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, research analysts predict that Zions Bancorporation NA will post 4.43 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 21st. Shareholders of record on Thursday, February 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Wednesday, February 13th. Zions Bancorporation NA’s dividend payout ratio is currently 29.41%.

In other news, insider Steven Dan Stephens sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $48.20, for a total value of $385,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,237 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $48.47, for a total value of $59,957.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,983 shares of company stock valued at $819,534. 1.60% of the stock is owned by company insiders.

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Zions Bancorporation NA Company 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.

Further Reading: What is a good rate of return for a mutual fund?

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Institutional Ownership by Quarter for Zions Bancorporation NA (NASDAQ:ZION)

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