Hudson Bay Capital Management LP purchased a new position in shares of Zions Bancorp (NASDAQ:ZION) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 142,732 shares of the bank’s stock, valued at approximately $7,255,000.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Zions Bancorp by 0.9% during the fourth quarter. BlackRock Inc. now owns 13,421,671 shares of the bank’s stock worth $682,222,000 after acquiring an additional 115,554 shares during the period. American Century Companies Inc. boosted its holdings in shares of Zions Bancorp by 2.2% during the fourth quarter. American Century Companies Inc. now owns 6,301,387 shares of the bank’s stock worth $320,300,000 after acquiring an additional 136,198 shares during the period. Cortland Advisers LLC boosted its holdings in shares of Zions Bancorp by 49.6% during the third quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock worth $150,006,000 after acquiring an additional 1,053,900 shares during the period. TCW Group Inc. boosted its holdings in shares of Zions Bancorp by 1.0% during the third quarter. TCW Group Inc. now owns 2,953,568 shares of the bank’s stock worth $139,349,000 after acquiring an additional 28,685 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Zions Bancorp by 146.8% during the third quarter. Ameriprise Financial Inc. now owns 2,698,958 shares of the bank’s stock worth $127,330,000 after acquiring an additional 1,605,540 shares during the period. Institutional investors own 94.01% of the company’s stock.
Zions Bancorp (NASDAQ:ZION) opened at $56.29 on Tuesday. Zions Bancorp has a 1 year low of $38.43 and a 1 year high of $56.57. The company has a market cap of $10,998.58, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 1.64 and a beta of 1.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were given a dividend of $0.20 per share. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, February 14th. Zions Bancorp’s payout ratio is currently 30.77%.
In related news, General Counsel Thomas E. Laursen sold 1,250 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $54.28, for a total value of $67,850.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David E. Blackford sold 4,115 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $51.47, for a total transaction of $211,799.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,915 shares of company stock valued at $1,398,816. Company insiders own 1.46% of the company’s stock.
A number of research firms have recently weighed in on ZION. B. Riley reiterated a “buy” rating and issued a $60.00 price target on shares of Zions Bancorp in a research report on Tuesday, January 23rd. Sanford C. Bernstein set a $58.00 price target on shares of Zions Bancorp and gave the company a “hold” rating in a research report on Tuesday, January 23rd. BidaskClub upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of Zions Bancorp in a research report on Wednesday, December 20th. Finally, Zacks Investment Research downgraded shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $55.22.
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Zions Bancorp 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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