BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Zions Bancorp (NASDAQ:ZION) by 37.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,536 shares of the bank’s stock after buying an additional 49,503 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.09% of Zions Bancorp worth $9,512,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Centaurus Financial Inc. bought a new stake in Zions Bancorp during the 1st quarter worth about $106,000. NuWave Investment Management LLC lifted its position in Zions Bancorp by 306.4% during the 1st quarter. NuWave Investment Management LLC now owns 2,089 shares of the bank’s stock worth $109,000 after buying an additional 1,575 shares in the last quarter. Three Peaks Capital Management LLC bought a new stake in Zions Bancorp during the 1st quarter worth about $112,000. Piedmont Investment Advisors LLC bought a new stake in Zions Bancorp during the 2nd quarter worth about $122,000. Finally, Whittier Trust Co. lifted its position in Zions Bancorp by 493.1% during the 1st quarter. Whittier Trust Co. now owns 2,420 shares of the bank’s stock worth $128,000 after buying an additional 2,012 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Alexander Hume sold 4,046 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $54.51, for a total value of $220,547.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Thomas E. Laursen sold 945 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $52.73, for a total transaction of $49,829.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,896 shares of company stock worth $1,016,029. 1.60% of the stock is owned by company insiders.

ZION has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Zions Bancorp from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 30th. BidaskClub cut shares of Zions Bancorp from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Zions Bancorp in a report on Friday, July 13th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $61.00 target price on shares of Zions Bancorp in a report on Tuesday, July 24th. Finally, BMO Capital Markets dropped their target price on shares of Zions Bancorp from $55.00 to $53.00 and set a “market perform” rating on the stock in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.90.

Shares of ZION stock opened at $53.17 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $10.43 billion, a PE ratio of 18.59, a PEG ratio of 1.47 and a beta of 1.38. Zions Bancorp has a 52-week low of $41.22 and a 52-week high of $59.19.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 23rd. The bank reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.03). Zions Bancorp had a net margin of 25.03% and a return on equity of 10.86%. The company had revenue of $686.00 million during the quarter, compared to analyst estimates of $687.26 million. During the same quarter last year, the company posted $0.73 EPS. equities analysts forecast that Zions Bancorp will post 3.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.26%. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.24. Zions Bancorp’s dividend payout ratio is 41.96%.

Zions Bancorp Company Profile

Zions Bancorporation, a financial holding company, provides a range of banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as 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; and residential mortgage servicing and lending.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for Zions Bancorp (NASDAQ:ZION)

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