Artemis Investment Management Llp buys $58,169,049 stake in Zions Bancorporation (ZION)

Zions Bancorporation (ZION) : Artemis Investment Management Llp scooped up 1,606,569 additional shares in Zions Bancorporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 2,078,951 shares of Zions Bancorporation which is valued at $58,169,049.Zions Bancorporation makes up approximately 1.52% of Artemis Investment Management Llp’s portfolio.

Other Hedge Funds, Including , Sippican Capital Advisors reduced its stake in ZION by selling 6,382 shares or 16.19% in the most recent quarter. The Hedge Fund company now holds 33,035 shares of ZION which is valued at $924,319. Zions Bancorporation makes up approx 1.05% of Sippican Capital Advisors’s portfolio.Msi Financial Services Inc reduced its stake in ZION by selling 53 shares or 5.36% in the most recent quarter. The Hedge Fund company now holds 936 shares of ZION which is valued at $26,189.Kanaly Trust Co boosted its stake in ZION in the latest quarter, The investment management firm added 51 additional shares and now holds a total of 1,305 shares of Zions Bancorporation which is valued at $34,335. Zions Bancorporation makes up approx 0.01% of Kanaly Trust Co’s portfolio.Mai Capital Management boosted its stake in ZION in the latest quarter, The investment management firm added 27 additional shares and now holds a total of 8,641 shares of Zions Bancorporation which is valued at $223,456. Zions Bancorporation makes up approx 0.02% of Mai Capital Management’s portfolio.

Zions Bancorporation closed down -0.26 points or -0.92% at $27.88 with 33,59,088 shares getting traded on Friday. Post opening the session at $27.97, the shares hit an intraday low of $27.7 and an intraday high of $28.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Zions Bancorporation reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $0.39.Analysts expectations of $ 576.55.During the same quarter in the previous year, the company posted $0.37 EPS.

Investors should note that on Jul 22, 2016, Zions Bancorporation announced a cash dividend of $0.0800. The company’s management has announced Aug 16, 2016 as the ex-dividend date and fixed the record date on Aug 18, 2016. The payable date has been fixed on Aug 25, 2016.

Many Wall Street Analysts have commented on Zions Bancorporation. Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Outperform” and Lowered the Price Target to $ 32 from a previous price target of $36 .FIG Partners Initiated Zions Bancorporation on Jul 7, 2016 to “Outperform”, Price Target of the shares are set at $29.Piper Jaffray Upgraded Zions Bancorporation on Jul 7, 2016 to ” Overweight”, Price Target of the shares are set at $29.

Zions Bancorporation is a financial holding company. The Company owns and operates eight commercial banks with a total of approximately 460 domestic branches as of December 31 2014. The Company provides banking and related services through its banking and other subsidiaries primarily in Arizona California Colorado Idaho Nevada New Mexico Oregon Texas Utah Washington and Wyoming. The Company focuses on providing community banking services by its core business lines of 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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