Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Zions Bancorp (NASDAQ:ZION) during the third quarter, Holdings Channel reports. The fund bought 135,725 shares of the company’s stock, valued at approximately $4,210,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.07% of Zions Bancorp at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Seven Eight Capital LLC raised its position in Zions Bancorp by 235.4% in the first quarter. Seven Eight Capital LLC now owns 6,412 shares of the company’s stock valued at $155,000 after buying an additional 4,500 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Zions Bancorp during the second quarter valued at approximately $208,000. MAI Capital Management raised its position in Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock valued at $217,000 after buying an additional 27 shares during the period. Parametrica Management Ltd bought a new position in Zions Bancorp during the second quarter valued at approximately $234,000. Finally, Oakbrook Investments LLC bought a new position in Zions Bancorp during the third quarter valued at approximately $374,000. Institutional investors and hedge funds own 91.36% of the company’s stock.
Shares of Zions Bancorp (NASDAQ:ZION) remained flat at $39.12 during midday trading on Thursday. 2,365,289 shares of the company’s stock traded hands. The company has a 50 day moving average price of $33.56 and a 200-day moving average price of $29.41. Zions Bancorp has a 1-year low of $19.65 and a 1-year high of $39.19. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 21.49 and a beta of 1.37.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Monday, October 24th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Zions Bancorp had a return on equity of 6.16% and a net margin of 17.81%. During the same period in the prior year, the business posted $0.41 earnings per share. On average, equities research analysts expect that Zions Bancorp will post $1.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 16th were given a $0.08 dividend. The ex-dividend date was Monday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.82%. Zions Bancorp’s payout ratio is 17.58%.
A number of brokerages have issued reports on ZION. FBR & Co upped their target price on Zions Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Tuesday, October 25th. Barclays PLC upped their target price on Zions Bancorp from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, October 11th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $36.00 target price on shares of Zions Bancorp in a research report on Thursday, November 3rd. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $38.00 target price on shares of Zions Bancorp in a research report on Tuesday, November 8th. Finally, Vetr raised Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 target price on the stock in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. Zions Bancorp currently has a consensus rating of “Hold” and an average target price of $35.05.
In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 10,000 shares of Zions Bancorp stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $32.26, for a total value of $322,600.00. Following the completion of the transaction, the general counsel now owns 29,737 shares in the company, valued at approximately $959,315.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Richard Young sold 19,893 shares of Zions Bancorp stock in a transaction on Monday, November 7th. The shares were sold at an average price of $32.27, for a total value of $641,947.11. Following the completion of the transaction, the insider now owns 27,156 shares of the company’s stock, valued at approximately $876,324.12. The disclosure for this sale can be found here. 2.06% of the stock is owned by company insiders.
About Zions Bancorp
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.