Oppenheimer Asset Management Inc. cut its position in Zions Bancorporation (NASDAQ:ZION) by 39.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,500 shares of the bank’s stock after selling 8,898 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Zions Bancorporation were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Magnetar Financial LLC bought a new position in Zions Bancorporation during the 3rd quarter valued at $215,000. Asset Management One Co. Ltd. boosted its stake in Zions Bancorporation by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 334,900 shares of the bank’s stock valued at $15,795,000 after acquiring an additional 1,485 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Zions Bancorporation by 134.0% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 323,621 shares of the bank’s stock worth $15,268,000 after buying an additional 185,301 shares during the last quarter. AMP Capital Investors Ltd lifted its position in shares of Zions Bancorporation by 3.7% in the 3rd quarter. AMP Capital Investors Ltd now owns 167,525 shares of the bank’s stock worth $7,904,000 after buying an additional 5,910 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Zions Bancorporation by 217.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 20,204 shares of the bank’s stock worth $953,000 after buying an additional 13,830 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.
Zions Bancorporation (NASDAQ ZION) opened at $50.01 on Friday. The stock has a market cap of $9,831.39, a P/E ratio of 18.50, a PEG ratio of 1.90 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a 52 week low of $38.43 and a 52 week high of $52.20.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.28%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, November 14th. Zions Bancorporation’s dividend payout ratio (DPR) is presently 24.06%.
A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Zions Bancorporation from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Keefe, Bruyette & Woods upgraded shares of Zions Bancorporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. Jefferies Group restated a “buy” rating and issued a $54.00 price target on shares of Zions Bancorporation in a research report on Thursday, October 12th. Robert W. Baird cut shares of Zions Bancorporation from a “neutral” rating to an “underperform” rating and set a $43.00 price objective on the stock. in a report on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.84.
In related news, EVP Keith D. Maio sold 13,019 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were 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 Securities & Exchange Commission, which is available through this link. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $46.55, for a total transaction of $74,480.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,979 shares of company stock valued at $2,057,927. Corporate insiders own 1.46% of the company’s stock.
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Zions Bancorporation Company 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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