November 28, 2016 - By Louis Casey
In a analysts report revealed to investors on Monday morning, Jefferies stated it was upgrading Zions Bancorp (NASDAQ:ZION) stock from a Hold to a Buy.
Out of 22 analysts covering Zions Bancorporation (NASDAQ:ZION), 8 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 36% are positive. $40 is the highest target while $1 is the lowest. The $29.19 average target is -24.65% below today’s ($38.74) stock price. Zions Bancorporation has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Zions Bancorp (NASDAQ:ZION) earned “Buy” rating by Sandler O’Neill on Wednesday, August 5. The firm has “Neutral” rating by Macquarie Research given on Tuesday, November 22. JP Morgan maintained the shares of ZION in a report on Tuesday, April 26 with “Neutral” rating. The rating was maintained by Macquarie Research with “Outperform” on Tuesday, April 26. The stock has “Buy” rating given by Compass Point on Friday, January 29. The rating was upgraded by Goldman Sachs to “Buy” on Wednesday, September 16. The firm has “Hold” rating given on Monday, August 31 by Zacks. Barclays Capital upgraded Zions Bancorp (NASDAQ:ZION) on Tuesday, August 18 to “Overweight” rating. Barclays Capital maintained Zions Bancorp (NASDAQ:ZION) rating on Wednesday, July 27. Barclays Capital has “Overweight” rating and $31 price target. The stock has “Positive” rating given by Susquehanna on Tuesday, June 7.
About 357,962 shares traded hands. Zions Bancorp (NASDAQ:ZION) has risen 43.28% since April 25, 2016 and is uptrending. It has outperformed by 37.26% the S&P500.
Analysts await Zions Bancorp (NASDAQ:ZION) to report earnings on January, 23. They expect $0.52 EPS, up 20.93% or $0.09 from last year’s $0.43 per share. ZION’s profit will be $105.91 million for 18.63 P/E if the $0.52 EPS becomes a reality. After $0.57 actual EPS reported by Zions Bancorp for the previous quarter, Wall Street now forecasts -8.77% negative EPS growth.
Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.14, from 0.99 in 2016Q1. The ratio is positive, as 35 funds sold all Zions Bancorp shares owned while 110 reduced positions. 41 funds bought stakes while 102 increased positions. They now own 179.67 million shares or 2.27% less from 183.83 million shares in 2016Q1.
Teton Advsrs holds 95,332 shares or 0.22% of its portfolio. Stieven Advsr Ltd Partnership last reported 2.14% of its portfolio in the stock. Mufg Americas Holding has invested 0.06% of its portfolio in Zions Bancorp (NASDAQ:ZION). Pnc Financial Service Inc holds 0% or 130,051 shares in its portfolio. Ftb Advisors owns 107 shares or 0% of their US portfolio. Archford Cap Strategies Ltd Liability Corporation, a Illinois-based fund reported 13 shares. Blackrock Ltd Llc holds 0% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 82,826 shares. Breton Hill Capital Limited has 35,184 shares for 0.28% of their US portfolio. Capstone Asset Mgmt Company accumulated 0.02% or 27,826 shares. Axa owns 571,504 shares or 0.06% of their US portfolio. Adage Capital Prtn Group Lc holds 0.02% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 357,700 shares. Us State Bank De accumulated 0% or 44,535 shares. King Luther Mgmt last reported 1.40M shares in the company. Westport Resources Incorporated reported 800 shares or 0.01% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock.
Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 11 insider sales for $5.48 million net activity. On Monday, November 21 James Dianne R sold $162,880 worth of the stock or 4,259 shares. On Thursday, November 10 the insider Morris Michael sold $666,262. Shares for $45,049 were sold by BLACKFORD DAVID E on Friday, July 29. 18,608 shares were sold by ALEXANDER BRUCE K, worth $713,589. Shares for $641,949 were sold by Young Mark Richard on Monday, November 7. Schreiber Edward also sold $302,400 worth of Zions Bancorp (NASDAQ:ZION) on Friday, November 18. LAURSEN THOMAS E had sold 10,000 shares worth $322,580.
Zions Bancorporation is a financial holding company. The company has a market cap of $7.89 billion. The Firm operates through seven divisions: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It has a 21.15 P/E ratio. It focuses on providing community banking services and its core business lines are small and medium-sized business and corporate banking; commercial and residential development, construction and term lending; retail banking; treasury cash management and related services and products; residential mortgage servicing and lending; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
According to Zacks Investment Research, “Zions Bancorporation is a multi-bank holding company. Zions focuses on maintaining community-minded banking by strengthening its core business lines of retail banking, small and medium-sized business lending, residential mortgage and investment activities. The banks provide a wide variety of commercial and retail banking and mortgage-lending financial services. Commercial loans, lease financing, cash management, lockbox, customized draft processing, and other special financial services are provided for business and other commercial banking customers.”
Zions Bancorporation, incorporated on April 25, 1955, is a financial holding company. The Firm conducts its banking activities through seven separately managed and branded divisions: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. The Firm owns and operates a commercial bank with approximately 450 domestic branches. The Firm provides a range of banking and related services, primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming.
More news for Zions Bancorp (NASDAQ:ZION) were recently published by: Streetinsider.com, which released: “Jefferies Upgrades Zions Bancorp (ZION) to Buy” on November 28, 2016. Nasdaq.com‘s article titled: “New Stock Buys Of Top Mutual Funds: Netflix, Zions Bancorp, Chip Stocks” and published on November 04, 2016 is yet another important article.
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By Louis Casey