Zurich Insurance Group Ltd FI Buys 68,424 Shares of Zions Bancorp (ZION)

Zurich Insurance Group Ltd FI grew its holdings in Zions Bancorp (NASDAQ:ZION) by 113.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,523 shares of the bank’s stock after buying an additional 68,424 shares during the quarter. Zurich Insurance Group Ltd FI owned about 0.07% of Zions Bancorp worth $6,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ZION. Three Peaks Capital Management LLC purchased a new position in Zions Bancorp during the first quarter worth $112,000. Piedmont Investment Advisors LLC purchased a new position in Zions Bancorp during the second quarter worth $122,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Zions Bancorp in the second quarter valued at $158,000. Tower Research Capital LLC TRC grew its position in shares of Zions Bancorp by 1,637.5% in the second 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 second 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. 94.81% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on ZION shares. BidaskClub raised Zions Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Zions Bancorp in a research report on Friday, July 13th. ValuEngine downgraded Zions Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. UBS Group cut Zions Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, September 7th. Finally, Morgan Stanley reduced their target price on Zions Bancorp from $61.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.58.

In related news, insider Leeanne B. Linderman sold 5,006 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $53.62, for a total value of $268,421.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Richard Young sold 2,538 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $53.32, for a total value of $135,326.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,896 shares of company stock worth $1,016,029. Insiders own 1.60% of the company’s stock.

NASDAQ:ZION opened at $52.09 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. Zions Bancorp has a one year low of $43.50 and a one year high of $59.19. The stock has a market capitalization of $9.75 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40.

Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 23rd. The bank reported $0.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.03). Zions Bancorp had a return on equity of 10.86% and a net margin of 25.03%. The business had revenue of $686.00 million during the quarter, compared to analyst estimates of $687.26 million. During the same quarter last year, the firm posted $0.73 EPS. As a group, equities research analysts predict that Zions Bancorp will post 3.94 earnings per share for the current year.

About Zions Bancorp

Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.

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

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