Today’s Rating On Watch: Is Jefferies Very Positive For Zions Bancorp (ZION) After Its Upgrade?

November 28, 2016 - By whatsonthorold

Today's Rating On Watch:  Is Jefferies Very Positive For Zions Bancorp (ZION) After Its Upgrade?

Zions Bancorp (ZION) Upgrade

In a an analyst note revealed to investors and clients on Monday morning, equity research analysts at Jefferies’s equities research division boosted Zions Bancorp (ZION)‘s stock from a Hold to Buy.

Zions Bancorp (NASDAQ:ZION) Ratings Coverage

Out of 7 analysts covering Zions Bancorp (ZION), 1 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 14% are positive. $40.0 is the highest target while $32.0 is the lowest. The $34.81 average target is -9.98% below today’s ($38.67) stock price. Zions Bancorp has been the topic of 8 analyst reports since October 6, 2016 according to StockzIntelligence Inc. FBR Capital downgraded the shares of ZION in a report on Tuesday, October 11 to “Mkt Perform” rating. As per Wednesday, November 16, the company rating was downgraded by Bernstein. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, November 10 report. The rating was downgraded by Morgan Stanley on Wednesday, November 16 to “Equal-Weight”. The rating was downgraded by Piper Jaffray on Monday, October 10 to “Neutral”. Macquarie Research downgraded the stock to “Neutral” rating in Tuesday, November 22 report. As per Thursday, October 6, the company rating was downgraded by Raymond James.

About 681,300 shares traded hands. Zions Bancorp (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 $105.88M for 18.58 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 2016 Q2. 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.

Quantbot Tech Ltd Partnership reported 92,960 shares or 0.25% of all its holdings. Commercial Bank Of America Corp De has 581,669 shares for 0% of their US portfolio. Clinton Grp Inc Inc accumulated 0.21% or 191,799 shares. Metropolitan Life Ins Comm Ny holds 0.02% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 106,584 shares. Advantus Cap accumulated 0.01% or 19,705 shares. The Colorado-based Janus Cap Mngmt Limited Liability Corporation has invested 0.01% in Zions Bancorp (NASDAQ:ZION). Millennium Mgmt Limited Liability Corporation has 5.14M shares for 0.3% of their US portfolio. Jcsd Cap Lc, a California-based fund reported 40,000 shares. Ls Investment Advsr Ltd Liability last reported 0.01% of its portfolio in the stock. Teachers Retirement Systems Of The State Of Kentucky, a Kentucky-based fund reported 28,744 shares. Menta Lc has 29,700 shares for 0.1% of their US portfolio. The Colorado-based Advsrs Asset Mgmt has invested 0% in Zions Bancorp (NASDAQ:ZION). Voya Limited Liability Com holds 0.01% or 117,840 shares in its portfolio. The New York-based Rafferty Asset Management Lc has invested 0.07% in Zions Bancorp (NASDAQ:ZION). Tarbox holds 74 shares or 0% of its portfolio.

Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 11 sales for $5.48 million net activity. James Dianne R also sold $162,880 worth of Zions Bancorp (NASDAQ:ZION) shares. $322,580 worth of shares were sold by LAURSEN THOMAS E on Thursday, October 27. The insider Hume Alexander sold $445,796. The insider Schreiber Edward sold $302,400. 65,000 shares with value of $1.35M were sold by Young Mark Richard on Wednesday, August 17. The insider ALEXANDER BRUCE K sold $713,589. Morris Michael also sold $666,262 worth of Zions Bancorp (NASDAQ:ZION) shares.

Zions Bancorporation is a financial holding company. The company has a market cap of $7.87 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 21.11 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.”

ZION Company Profile

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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