The Suntrust Banks Inc. Raises Position in Zions Bancorp (ZION)

The Suntrust Banks Inc. Raises Position in Zions Bancorp (ZION)

Suntrust Banks Inc. increased its stake in shares of Zions Bancorp (NASDAQ:ZION) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 20,392 shares of the company’s stock after buying an additional 237 shares during the period. Suntrust Banks Inc.’s holdings in Zions Bancorp were worth $631,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Artemis Investment Management LLP raised its position in shares of Zions Bancorp by 772.6% in the second quarter. Artemis Investment Management LLP now owns 4,122,053 shares of the company’s stock valued at $103,567,000 after buying an additional 3,649,671 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Zions Bancorp by 64.7% in the third quarter. Wells Fargo & Company MN now owns 3,658,682 shares of the company’s stock valued at $113,492,000 after buying an additional 1,437,234 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Zions Bancorp by 36.9% in the second quarter. Teachers Advisors Inc. now owns 3,418,035 shares of the company’s stock valued at $85,895,000 after buying an additional 921,928 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Zions Bancorp by 28.7% in the third quarter. TIAA CREF Investment Management LLC now owns 3,844,626 shares of the company’s stock valued at $119,260,000 after buying an additional 857,388 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Zions Bancorp by 105.2% in the third quarter. Ameriprise Financial Inc. now owns 1,316,880 shares of the company’s stock valued at $40,844,000 after buying an additional 675,111 shares in the last quarter. Hedge funds and other institutional investors own 86.10% of the company’s stock.

Zions Bancorp (NASDAQ:ZION) traded down 0.40% during mid-day trading on Thursday, hitting $42.31. 1,778,526 shares of the stock traded hands. The company has a market cap of $8.62 billion, a P/E ratio of 23.25 and a beta of 1.45. Zions Bancorp has a 12 month low of $19.65 and a 12 month high of $44.33. The company’s 50 day moving average is $42.78 and its 200 day moving average is $33.56.

Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, October 24th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. Zions Bancorp had a net margin of 17.81% and a return on equity of 6.35%. During the same quarter last year, the business earned $0.41 earnings per share. On average, analysts expect that Zions Bancorp will post $1.93 earnings per share for the current fiscal year.

ZION has been the subject of several recent research reports. Credit Suisse Group AG reissued a “buy” rating and set a $38.00 target price on shares of Zions Bancorp in a research report on Tuesday, November 8th. Zacks Investment Research raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Monday, October 3rd. boosted their target price on shares of Zions Bancorp from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Jefferies Group raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $41.00 to $45.00 in a research report on Monday, November 28th. Finally, RBC Capital Markets reissued a “buy” rating on shares of Zions Bancorp in a research report on Saturday, December 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $38.14.

In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $32.26, for a total value of $322,600.00. Following the completion of the transaction, the general counsel now directly owns 29,737 shares in the company, valued at $959,315.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Richard Young sold 19,893 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $32.27, for a total transaction of $641,947.11. Following the completion of the transaction, the insider now owns 27,156 shares of the company’s stock, valued at $876,324.12. The disclosure for this sale can be found here. Insiders have sold 127,483 shares of company stock valued at $4,575,634 over the last 90 days. 2.06% of the stock is currently owned by company insiders.

About Zions Bancorp

Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.

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