Meag Munich Ergo Kapitalanlagegesellschaft MBH Takes Position in Zions Bancorp (ZION)

Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Zions Bancorp (NASDAQ:ZION) in the 3rd quarter, Holdings Channel reports. The fund acquired 19,400 shares of the bank’s stock, valued at approximately $971,000.

Several other institutional investors and hedge funds have also modified their holdings of ZION. Piedmont Investment Advisors LLC acquired a new position in shares of Zions Bancorp in the 2nd quarter valued at approximately $122,000. NumerixS Investment Technologies Inc acquired a new position in shares of Zions Bancorp in the 2nd quarter valued at approximately $158,000. Huntington National Bank grew its position in shares of Zions Bancorp by 2,443.4% in the 3rd quarter. Huntington National Bank now owns 3,281 shares of the bank’s stock valued at $164,000 after purchasing an additional 3,152 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Zions Bancorp by 1,637.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock valued at $183,000 after purchasing an additional 3,275 shares during the period. Finally, Crewe Advisors LLC grew its position in shares of Zions Bancorp by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 4,000 shares of the bank’s stock valued at $210,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 94.70% of the company’s stock.

In other news, General Counsel Thomas E. Laursen sold 945 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $52.73, for a total transaction of $49,829.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rebecca K. Robinson sold 6,361 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $53.75, for a total value of $341,903.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,896 shares of company stock worth $1,256,529. Company insiders own 1.60% of the company’s stock.



Several equities analysts recently issued reports on the company. BidaskClub upgraded Zions Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Raymond James raised Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, July 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $61.00 price target on shares of Zions Bancorp in a research report on Tuesday, July 24th. Barclays upped their price target on Zions Bancorp from $61.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. Finally, UBS Group downgraded Zions Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.14.

NASDAQ:ZION opened at $46.56 on Friday. Zions Bancorp has a twelve month low of $43.50 and a twelve month high of $59.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.37 and a beta of 1.40.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. The company had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $699.87 million. During the same quarter in the prior year, the business posted $0.72 EPS. On average, sell-side analysts forecast that Zions Bancorp will post 4.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.58%. Zions Bancorp’s dividend payout ratio is currently 41.96%.

Zions Bancorp Profile

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.

Further Reading: What Does Beta Mean In Stock Selection

Want to see what other hedge funds are holding ZION? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zions Bancorp (NASDAQ:ZION).

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

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