Koch Industries Inc. Takes $339,000 Position in Zions Bancorporation (NASDAQ:ZION)

Koch Industries Inc. bought a new position in shares of Zions Bancorporation (NASDAQ:ZION) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 346,301 shares of the bank’s stock, valued at approximately $339,000. Koch Industries Inc. owned 0.17% of Zions Bancorporation at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Zions Bancorporation by 4,464.8% in the 1st quarter. BlackRock Inc. now owns 11,741,470 shares of the bank’s stock valued at $493,142,000 after acquiring an additional 11,484,250 shares during the period. Balyasny Asset Management LLC grew its holdings in shares of Zions Bancorporation by 705.8% in the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock valued at $139,918,000 after purchasing an additional 2,791,044 shares in the last quarter. Cramer Rosenthal Mcglynn LLC grew its holdings in shares of Zions Bancorporation by 276.0% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock valued at $80,080,000 after purchasing an additional 1,338,748 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Zions Bancorporation by 16,303.3% in the second quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock valued at $54,056,000 after purchasing an additional 1,223,566 shares in the last quarter. Finally, Harbour Capital Advisors LLC grew its holdings in shares of Zions Bancorporation by 4,471.9% in the second quarter. Harbour Capital Advisors LLC now owns 1,165,240 shares of the bank’s stock valued at $26,537,000 after purchasing an additional 1,139,753 shares in the last quarter. 92.28% of the stock is currently owned by institutional investors.

In other Zions Bancorporation news, General Counsel Thomas E. Laursen sold 1,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $46.38, for a total value of $46,380.00. Following the transaction, the general counsel now owns 23,484 shares of the company’s stock, valued at $1,089,187.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger B. Porter purchased 1,616 shares of the stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $43.99 per share, with a total value of $71,087.84. Following the completion of the acquisition, the director now directly owns 42,001 shares of the company’s stock, valued at $1,847,623.99. The disclosure for this purchase can be found here. Insiders sold 17,585 shares of company stock worth $793,994 in the last three months. Insiders own 1.46% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Koch Industries Inc. Takes $339,000 Position in Zions Bancorporation (NASDAQ:ZION)” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.dispatchtribunal.com/2017/10/27/koch-industries-inc-takes-position-in-zions-bancorporation-zion.html.

Several research firms have commented on ZION. BidaskClub cut shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $46.00 price target on shares of Zions Bancorporation in a report on Friday, July 14th. Bank of America Corporation upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $52.00 in a report on Wednesday, August 16th. Morgan Stanley restated an “equal weight” rating and set a $49.00 price objective (up previously from $48.00) on shares of Zions Bancorporation in a research report on Wednesday, October 4th. Finally, BMO Capital Markets restated a “hold” rating and set a $47.00 price objective on shares of Zions Bancorporation in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.00.

Shares of Zions Bancorporation (NASDAQ ZION) traded down 0.23% during midday trading on Friday, hitting $46.82. 224,087 shares of the company were exchanged. The company’s 50 day moving average price is $45.53 and its 200 day moving average price is $43.40. Zions Bancorporation has a one year low of $30.85 and a one year high of $48.33. The firm has a market cap of $9.47 billion, a P/E ratio of 18.64 and a beta of 1.44.

Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. The firm had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. During the same period last year, the company earned $0.57 EPS. Equities analysts expect that Zions Bancorporation will post $2.80 EPS for the current year.

Zions Bancorporation 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)

Receive News & Ratings for Zions Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply