Maltese Capital Management buys $14,863,548 stake in Zions Bancorporation (ZION)

Zions Bancorporation (ZION) : Maltese Capital Management scooped up 33,200 additional shares in Zions Bancorporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 528,200 shares of Zions Bancorporation which is valued at $14,863,548.Zions Bancorporation makes up approximately 1.77% of Maltese Capital Management’s portfolio.

Other Hedge Funds, Including , Public Sector Pension Investment Board boosted its stake in ZION in the latest quarter, The investment management firm added 5,900 additional shares and now holds a total of 38,787 shares of Zions Bancorporation which is valued at $1,091,466. Zions Bancorporation makes up approx 0.01% of Public Sector Pension Investment Board’s portfolio. Zweig-dimenna Associates added ZION to its portfolio by purchasing 205,200 company shares during the most recent quarter which is valued at $5,803,056. Zions Bancorporation makes up approx 0.56% of Zweig-dimenna Associates’s portfolio.Calvert Investment Management reduced its stake in ZION by selling 318 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 15,803 shares of ZION which is valued at $456,549. Zions Bancorporation makes up approx 0.02% of Calvert Investment Management’s portfolio.California Public Employees Retirement System boosted its stake in ZION in the latest quarter, The investment management firm added 8,600 additional shares and now holds a total of 661,400 shares of Zions Bancorporation which is valued at $18,168,658. Zions Bancorporation makes up approx 0.03% of California Public Employees Retirement System’s portfolio.

Zions Bancorporation opened for trading at $29.4 and hit $29.52 on the upside on Tuesday, eventually ending the session at $29.28, with a gain of 0.07% or 0.02 points. The heightened volatility saw the trading volume jump to 20,68,426 shares. Company has a market cap of $6,006 M.

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.

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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