Mn Services Vermogensbeheer B.V. Takes Position in Zions Bancorporation (ZION)

Mn Services Vermogensbeheer B.V. acquired a new position in shares of Zions Bancorporation (NASDAQ:ZION) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 32,863 shares of the bank’s stock, valued at approximately $1,443,000.

Several other hedge funds have also bought and sold shares of the stock. Sii Investments Inc. WI boosted its stake in Zions Bancorporation by 0.4% in the first quarter. Sii Investments Inc. WI now owns 24,586 shares of the bank’s stock worth $1,033,000 after buying an additional 99 shares during the period. Mason Street Advisors LLC boosted its stake in Zions Bancorporation by 0.4% in the first quarter. Mason Street Advisors LLC now owns 27,973 shares of the bank’s stock worth $1,175,000 after buying an additional 105 shares during the period. Breton Hill Capital Ltd. boosted its stake in Zions Bancorporation by 0.6% in the first quarter. Breton Hill Capital Ltd. now owns 24,182 shares of the bank’s stock worth $1,016,000 after buying an additional 155 shares during the period. Advantus Capital Management Inc boosted its stake in Zions Bancorporation by 0.9% in the first quarter. Advantus Capital Management Inc now owns 20,313 shares of the bank’s stock worth $853,000 after buying an additional 183 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Zions Bancorporation by 2.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 7,700 shares of the bank’s stock worth $323,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Zions Bancorporation (ZION) traded up 0.16% during midday trading on Friday, hitting $43.92. The company had a trading volume of 1,483,039 shares. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 17.48 and a beta of 1.44. The stock has a 50 day moving average of $44.79 and a 200 day moving average of $42.82. Zions Bancorporation has a 52-week low of $28.75 and a 52-week high of $48.33.

Zions Bancorporation (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.62 by $0.11. Zions Bancorporation had a return on equity of 8.14% and a net margin of 21.97%. The company had revenue of $660 million for the quarter, compared to analyst estimates of $640.34 million. During the same period last year, the company posted $0.44 earnings per share. On average, analysts anticipate that Zions Bancorporation will post $2.82 EPS for the current year.

Zions Bancorporation declared that its board has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $465.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This is a positive change from Zions Bancorporation’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a yield of 1.09%. Zions Bancorporation’s dividend payout ratio (DPR) is 19.12%.

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A number of analysts have recently issued reports on the company. Barclays PLC lifted their price target on Zions Bancorporation from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $46.00 price target on shares of Zions Bancorporation in a research note on Friday, July 14th. BidaskClub lowered Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Bank of America Corporation raised Zions Bancorporation from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $52.00 in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price target (up from $43.00) on shares of Zions Bancorporation in a research note on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. Zions Bancorporation currently has an average rating of “Hold” and an average price target of $44.33.

In other Zions Bancorporation news, insider David E. Blackford sold 2,090 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $39.61, for a total value of $82,784.90. Following the transaction, the insider now directly owns 23,578 shares of the company’s stock, valued at $933,924.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph L. Reilly sold 11,972 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $40.24, for a total value of $481,753.28. Following the completion of the transaction, the insider now directly owns 67,791 shares in the company, valued at $2,727,909.84. The disclosure for this sale can be found here. Insiders sold 40,422 shares of company stock worth $1,746,332 over the last three months. 1.46% of the stock is currently owned by corporate insiders.

Zions Bancorporation Company Profile

Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.

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

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