MetLife Investment Advisors LLC Invests $3.14 Million in Zions Bancorp (ZION) Stock

MetLife Investment Advisors LLC acquired a new stake in shares of Zions Bancorp (NASDAQ:ZION) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 61,802 shares of the bank’s stock, valued at approximately $3,141,000.

A number of other large investors also recently modified their holdings of the business. Gotham Asset Management LLC lifted its stake in Zions Bancorp by 23.6% during the 4th quarter. Gotham Asset Management LLC now owns 6,205 shares of the bank’s stock valued at $315,000 after acquiring an additional 1,183 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Zions Bancorp by 228.9% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 17,170 shares of the bank’s stock valued at $872,000 after acquiring an additional 11,950 shares in the last quarter. MainStreet Investment Advisors LLC bought a new position in Zions Bancorp during the 4th quarter valued at $1,092,000. Castleark Management LLC bought a new position in Zions Bancorp during the 4th quarter valued at $5,818,000. Finally, Macquarie Group Ltd. lifted its stake in Zions Bancorp by 30.4% during the 4th quarter. Macquarie Group Ltd. now owns 260,031 shares of the bank’s stock valued at $13,217,000 after acquiring an additional 60,578 shares in the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

In related news, insider Steven Dan Stephens sold 7,100 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $54.87, for a total value of $389,577.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Thomas E. Laursen sold 1,250 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $54.28, for a total value of $67,850.00. The disclosure for this sale can be found here. Insiders sold a total of 57,224 shares of company stock worth $3,156,817 over the last 90 days. 1.46% of the stock is currently owned by company insiders.

Several brokerages have weighed in on ZION. Piper Jaffray restated a “hold” rating on shares of Zions Bancorp in a research note on Tuesday, March 6th. B. Riley restated a “buy” rating and set a $64.00 price objective (up from $60.00) on shares of Zions Bancorp in a research note on Tuesday, February 27th. Sandler O’Neill restated a “buy” rating and set a $62.00 price objective on shares of Zions Bancorp in a research note on Friday, March 9th. UBS began coverage on Zions Bancorp in a research note on Wednesday, March 21st. They set a “buy” rating and a $67.00 price objective on the stock. Finally, Raymond James Financial upgraded Zions Bancorp from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research note on Thursday, March 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. Zions Bancorp presently has a consensus rating of “Buy” and a consensus target price of $56.67.

Shares of Zions Bancorp stock opened at $52.73 on Friday. Zions Bancorp has a 52-week low of $38.43 and a 52-week high of $57.29. The stock has a market capitalization of $10,362.18, a P/E ratio of 18.44, a PEG ratio of 1.54 and a beta of 1.37. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.07. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. The business had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $670.55 million. During the same period in the previous year, the business posted $0.60 EPS. sell-side analysts forecast that Zions Bancorp will post 3.69 EPS for the current year.

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Zions Bancorp 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 Bancorp (NASDAQ:ZION)

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