Suntrust Banks Inc. trimmed its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 28.3% during the 4th quarter, Holdings Channel reports. The firm owned 3,953 shares of the bank’s stock after selling 1,562 shares during the quarter. Suntrust Banks Inc.’s holdings in Zions Bancorp were worth $200,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of Zions Bancorp in the 4th quarter worth $102,000. Tower Research Capital LLC TRC boosted its stake in shares of Zions Bancorp by 1,274.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock worth $140,000 after buying an additional 2,562 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Zions Bancorp by 2,081.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after buying an additional 2,872 shares during the last quarter. Blue Sky Asset Management LLC purchased a new position in shares of Zions Bancorp in the 4th quarter worth $157,000. Finally, Virtu Financial LLC purchased a new position in shares of Zions Bancorp in the 4th quarter worth $200,000. Institutional investors and hedge funds own 94.63% of the company’s stock.
Zions Bancorp (NASDAQ ZION) opened at $56.58 on Tuesday. Zions Bancorp has a twelve month low of $38.43 and a twelve month high of $57.29. The company has a market capitalization of $11,300.00, a price-to-earnings ratio of 19.92, a P/E/G ratio of 1.67 and a beta of 1.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 14th. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. Zions Bancorp’s dividend payout ratio (DPR) is currently 28.17%.
A number of equities analysts have recently issued reports on ZION shares. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $60.00 price target on shares of Zions Bancorp in a research note on Friday, December 22nd. B. Riley restated a “buy” rating and issued a $60.00 price target on shares of Zions Bancorp in a research note on Tuesday, January 23rd. DA Davidson restated a “buy” rating and issued a $62.00 price target on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Finally, BidaskClub upgraded Zions Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Zions Bancorp has an average rating of “Buy” and a consensus target price of $55.89.
In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total transaction of $67,850.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Scott J. Mclean sold 31,309 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $56.15, for a total value of $1,758,000.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,224 shares of company stock worth $3,156,817. Insiders own 1.46% of the company’s stock.
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Zions Bancorp 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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