November 28, 2016 - By olga
Equity analysts at Jefferies’s research division upped Zions Bancorp (NASDAQ:ZION)‘s stock from a Hold to Buy on Monday, 28 November.
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 -24.67% below today’s ($38.75) stock price. Zions Bancorporation has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Macquarie Research given on Tuesday, April 26. The rating was maintained by Jefferies on Wednesday, July 27 with “Hold”. The firm has “Equal-Weight” rating given on Wednesday, November 16 by Morgan Stanley. The firm earned “Mkt Perform” rating on Tuesday, October 25 by Keefe Bruyette & Woods. The company was downgraded on Thursday, October 6 by Raymond James. The stock has “Buy” rating given by Goldman Sachs on Wednesday, September 16. The firm has “Best Ideas List” rating given on Tuesday, July 21 by Guggenheim. Credit Suisse maintained the shares of ZION in a report on Tuesday, April 26 with “Outperform” rating. UBS maintained the shares of ZION in a report on Tuesday, April 26 with “Sell” rating. The company was maintained on Tuesday, April 26 by Bernstein.
About 1.07 million 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 $105.88 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 improved, 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.
Savings Bank Of New York Mellon has 1.69 million shares for 0.01% of their US portfolio. Thompson Invest Mngmt accumulated 138,122 shares or 0.71% of the stock. Barclays Public Limited Liability Corporation reported 182,821 shares or 0.01% of all its holdings. Great West Life Assurance Company Can holds 77,757 shares or 0.01% of its portfolio. Janus Mgmt Ltd Liability Com accumulated 0.01% or 248,400 shares. Rhumbline Advisers last reported 0.02% of its portfolio in the stock. Guggenheim Capital Limited accumulated 0.16% or 2.08 million shares. Blackrock Inc reported 243,050 shares or 0.01% of all its holdings. Engineers Gate Manager L P owns 186,899 shares or 0.34% of their US portfolio. Schroder Invest Management last reported 0.06% of its portfolio in the stock. Pictet Asset Mgmt Limited has invested 0% of its portfolio in Zions Bancorp (NASDAQ:ZION). Tiverton Asset Lc accumulated 0.39% or 74,750 shares. Schneider Capital Mngmt last reported 0.13% of its portfolio in the stock. Cambridge Inv Research Advsr accumulated 0.01% or 27,245 shares. Capstone Asset Mgmt Communication holds 0.02% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 27,826 shares.
Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 11 selling transactions for $5.48 million net activity. On Tuesday, November 15 Hume Alexander sold $445,796 worth of the stock or 11,571 shares. 8,000 Zions Bancorp (NASDAQ:ZION) shares with value of $302,400 were sold by Schreiber Edward. On Monday, November 7 the insider Young Mark Richard sold $641,949. ALEXANDER BRUCE K sold $713,589 worth of stock or 18,608 shares. $45,049 worth of Zions Bancorp (NASDAQ:ZION) was sold by BLACKFORD DAVID E on Friday, July 29. LAURSEN THOMAS E also sold $322,580 worth of Zions Bancorp (NASDAQ:ZION) shares. Morris Michael also sold $583,132 worth of Zions Bancorp (NASDAQ:ZION) shares.
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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