Brandywine Global Investment Management LLC grew its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,694 shares of the bank’s stock after acquiring an additional 8,628 shares during the period. Brandywine Global Investment Management LLC owned about 0.13% of Zions Bancorp worth $12,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of ZION. Crewe Advisors LLC bought a new position in Zions Bancorp in the 4th quarter worth $102,000. Delpha Capital Management LLC bought a new position in Zions Bancorp in the 4th quarter worth $107,000. Tower Research Capital LLC TRC boosted its holdings in 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 period. Steward Partners Investment Advisory LLC boosted its holdings in 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 period. Finally, Blue Sky Asset Management LLC bought a new position in Zions Bancorp in the 4th quarter worth $157,000. 94.63% of the stock is owned by hedge funds and other institutional investors.
Shares of Zions Bancorp (NASDAQ ZION) opened at $56.58 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The stock has a market cap of $11,300.00, a PE ratio of 19.92, a PEG ratio of 1.67 and a beta of 1.37. Zions Bancorp has a 1 year low of $38.43 and a 1 year high of $57.29.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, February 14th. Zions Bancorp’s dividend payout ratio is currently 28.17%.
ZION has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $60.00 target price on shares of Zions Bancorp in a report on Friday, December 22nd. Morgan Stanley upped their target price on shares of Zions Bancorp from $57.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Piper Jaffray Companies reiterated a “hold” rating and issued a $49.00 price target on shares of Zions Bancorp in a research note on Tuesday, January 9th. BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $62.00 price target on shares of Zions Bancorp in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.89.
In other news, insider Bruce K. Alexander sold 4,754 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $54.81, for a total transaction of $260,566.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander Hume sold 7,196 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $53.87, for a total transaction of $387,648.52. The disclosure for this sale can be found here. Insiders have sold a total of 57,224 shares of company stock worth $3,156,817 over the last 90 days. Corporate insiders own 1.46% of the company’s stock.
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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