Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.32 Million Stake in Zions Bancorporation (NASDAQ:ZION)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in Zions Bancorporation (NASDAQ:ZION) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,067 shares of the bank’s stock after selling 12,811 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Zions Bancorporation were worth $2,315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Cadence Capital Management LLC lifted its position in shares of Zions Bancorporation by 0.4% in the second quarter. Cadence Capital Management LLC now owns 8,139 shares of the bank’s stock worth $357,000 after buying an additional 34 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Zions Bancorporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,054 shares of the bank’s stock worth $661,000 after buying an additional 39 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Zions Bancorporation by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 5,794 shares of the bank’s stock worth $254,000 after buying an additional 45 shares in the last quarter. Veritable L.P. lifted its position in shares of Zions Bancorporation by 0.9% in the second quarter. Veritable L.P. now owns 5,775 shares of the bank’s stock worth $254,000 after buying an additional 50 shares in the last quarter. Finally, OxFORD Asset Management LLP lifted its position in shares of Zions Bancorporation by 0.7% in the second quarter. OxFORD Asset Management LLP now owns 19,697 shares of the bank’s stock worth $865,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

In related news, insider Joseph L. Reilly sold 23,271 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total value of $1,086,755.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Keith D. Maio sold 13,019 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total value of $604,602.36. The disclosure for this sale can be found here. In the last three months, insiders sold 43,979 shares of company stock worth $2,057,927. 1.46% of the stock is owned by insiders.

A number of research firms recently commented on ZION. Morgan Stanley reiterated an “equal weight” rating and issued a $49.00 target price (up from $48.00) on shares of Zions Bancorporation in a research report on Wednesday, October 4th. Bank of America upgraded Zions Bancorporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $52.00 in a research report on Wednesday, August 16th. BidaskClub upgraded Zions Bancorporation from a “hold” rating to a “buy” rating in a research report on Wednesday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $51.00 target price on shares of Zions Bancorporation in a research report on Saturday, September 16th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 target price on shares of Zions Bancorporation in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $49.84.

Zions Bancorporation (NASDAQ:ZION) traded up $0.55 on Thursday, hitting $50.47. The stock had a trading volume of 2,414,703 shares, compared to its average volume of 2,526,066. The company has a market capitalization of $10,162.96, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.96 and a beta of 1.48. Zions Bancorporation has a 1 year low of $38.43 and a 1 year high of $52.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, October 23rd. The bank reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. During the same period in the prior year, the company posted $0.57 EPS. sell-side analysts expect that Zions Bancorporation will post 2.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.64 annualized dividend and a yield of 1.27%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s dividend payout ratio is 24.06%.

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About Zions Bancorporation

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.

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

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