State of Alaska Department of Revenue Sells 918 Shares of Zions Bancorporation NA (ZION)

State of Alaska Department of Revenue reduced its holdings in Zions Bancorporation NA (NASDAQ:ZION) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,686 shares of the bank’s stock after selling 918 shares during the period. State of Alaska Department of Revenue’s holdings in Zions Bancorporation NA were worth $2,709,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ZION. Smith Asset Management Group LP acquired a new position in Zions Bancorporation NA during the fourth quarter worth $27,000. CSat Investment Advisory L.P. raised its position in Zions Bancorporation NA by 97.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock worth $31,000 after acquiring an additional 373 shares during the period. Pinnacle Bank acquired a new position in Zions Bancorporation NA during the fourth quarter worth $33,000. Doyle Wealth Management acquired a new position in Zions Bancorporation NA during the fourth quarter worth $33,000. Finally, JOYN Advisors Inc. raised its position in Zions Bancorporation NA by 2,100.0% during the fourth quarter. JOYN Advisors Inc. now owns 836 shares of the bank’s stock worth $34,000 after acquiring an additional 798 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Steven Dan Stephens sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $48.20, for a total transaction of $385,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Anne Smith sold 7,746 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $48.28, for a total transaction of $373,976.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,225 shares of company stock valued at $1,537,180. 1.60% of the stock is owned by company insiders.

A number of equities analysts have weighed in on ZION shares. Vining Sparks restated a “buy” rating and set a $63.00 price objective on shares of Zions Bancorporation NA in a research report on Thursday, January 24th. BidaskClub upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. ValuEngine upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Zacks Investment Research reiterated a “hold” rating and issued a $43.00 target price on shares of Zions Bancorporation NA in a research report on Monday, December 31st. Finally, Argus assumed coverage on shares of Zions Bancorporation NA in a research report on Monday, December 17th. They issued a “buy” rating and a $51.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $55.18.

Shares of NASDAQ ZION opened at $47.65 on Tuesday. The stock has a market capitalization of $9.31 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.35 and a beta of 1.49. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. Zions Bancorporation NA has a 52 week low of $38.08 and a 52 week high of $59.19.

Zions Bancorporation NA (NASDAQ:ZION) last issued its earnings results on Tuesday, January 22nd. The bank reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. Zions Bancorporation NA had a net margin of 29.14% and a return on equity of 12.57%. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $712.48 million. During the same period in the prior year, the business earned $0.80 earnings per share. As a group, equities research analysts predict that Zions Bancorporation NA will post 4.44 EPS for the current fiscal year.

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About Zions Bancorporation NA

Zions Bancorporation, National Association provides various 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; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

Read More: What impact do institutional investors have on markets?

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

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