Stock On Watch: After Reaching 52-Week High, Is Zions Bancorp’s Near-Term Analysis Positive?

Stock On Watch: After Reaching 52 Week High, Is Zions Bancorp's Near Term Analysis Positive?

The stock of Zions Bancorp (NASDAQ:ZION) hit a new 52-week high and has $45.23 target or 45.00% above today’s $31.19 share price. The 6 months bullish chart indicates low risk for the $6.42 billion company. The 1-year high was reported on Oct, 4 by Barchart.com. If the $45.23 price target is reached, the company will be worth $2.89 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 275,164 shares traded hands. Zions Bancorp (NASDAQ:ZION) has risen 39.44% since March 1, 2016 and is uptrending. It has outperformed by 30.20% the S&P500.

Analysts await Zions Bancorp (NASDAQ:ZION) to report earnings on October, 17. They expect $0.50 earnings per share, up 21.95% or $0.09 from last year’s $0.41 per share. ZION’s profit will be $102.92 million for 15.60 P/E if the $0.50 EPS becomes a reality. After $0.44 actual earnings per share reported by Zions Bancorp for the previous quarter, Wall Street now forecasts 13.64% EPS growth.

Zions Bancorp (NASDAQ:ZION) Ratings Coverage

Out of 18 analysts covering Zions Bancorporation (NASDAQ:ZION), 10 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 56% are positive. $40 is the highest target while $1 is the lowest. The $28.37 average target is -9.04% below today’s ($31.19) stock price. Zions Bancorporation has been the topic of 54 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Tuesday, April 26 by Macquarie Research. The stock of Zions Bancorp (NASDAQ:ZION) earned “Buy” rating by Compass Point on Friday, January 29. Zacks upgraded the stock to “Hold” rating in Monday, August 31 report. Jefferies maintained the shares of ZION in a report on Wednesday, July 27 with “Hold” rating. The firm has “Buy” rating by Goldman Sachs given on Wednesday, September 16. The firm has “Neutral” rating by JP Morgan given on Tuesday, April 26. On Tuesday, August 16 the stock rating was maintained by Credit Suisse with “Outperform”. The stock of Zions Bancorp (NASDAQ:ZION) has “Sell” rating given on Tuesday, April 26 by UBS. The firm earned “Overweight” rating on Wednesday, July 27 by Barclays Capital. Compass Point maintained Zions Bancorp (NASDAQ:ZION) on Thursday, May 12 with “Neutral” rating.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.99 in Q2 2016. Its down 0.10, from 1.09 in 2016Q1. The ratio fall, 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.
Seizert Prtn Lc holds 1.75% or 1.83 million shares in its portfolio. Moreover, Rafferty Asset has 0.07% invested in Zions Bancorp (NASDAQ:ZION) for 43,291 shares. Northern Trust last reported 0.02% of its portfolio in the stock. Fifth Third State Bank last reported 103,552 shares in the company. Wealthtrust owns 1,200 shares or 0.02% of their US portfolio. Euclid Advisors Llc accumulated 1,380 shares or 0% of the stock. Panagora Asset Management Inc holds 0.01% or 63,933 shares in its portfolio. Checchi Cap Advisers Lc reported 1,273 shares or 0% of all its holdings. Sumitomo Mitsui Trust Incorporated has 9,968 shares for 0% of their US portfolio. Suntrust Banks Inc, a Georgia-based fund reported 20,155 shares. Ameriprise Incorporated holds 641,769 shares or 0.01% of its portfolio. Jacobus Wealth Mngmt has invested 0.03% of its portfolio in Zions Bancorp (NASDAQ:ZION). Architects Inc holds 0% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 427 shares. The California-based Los Angeles Capital Mgmt & Equity Research has invested 0.02% in Zions Bancorp (NASDAQ:ZION). Goldman Sachs Gru has 3.01M shares for 0.02% of their US portfolio.

Insider Transactions: Since April 28, 2016, the stock had 1 insider purchase, and 13 selling transactions for $3.14 million net activity. 3,981 shares were sold by BLACKFORD DAVID E, worth $111,474 on Thursday, May 26. $118,807 worth of shares were sold by Haun Dallas E on Tuesday, May 17. 10,000 Zions Bancorp (NASDAQ:ZION) shares with value of $270,945 were sold by STEPHENS STEVEN DAN. Another trade for 65,000 shares valued at $1.35M was made by Young Mark Richard on Wednesday, August 17. 9,000 shares with value of $251,730 were sold by Maio Keith D on Friday, July 29. On Friday, May 27 ANDERSON A SCOTT sold $139,620 worth of the stock or 5,000 shares. Castle Julie G sold $281,395 worth of stock or 10,171 shares.

More news for Zions Bancorp (NASDAQ:ZION) were recently published by: Wsj.com, which released: “Zions Bancorp Exceeds Fed Minimum Capital Level Under Stress Scenario” on June 23, 2016. Investorplace.com‘s article titled: “Trade of the Day: Zions Bancorp (NASDAQ:ZION)” and published on September 26, 2016 is yet another important article.

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.

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