Notable Mover: Time to Buy Zions Bancorp After Today’s Huge Decline?

Notable Mover: Time to Buy Zions Bancorp After Today's Huge Decline?

The stock of Zions Bancorp (NASDAQ:ZION) is a huge mover today! The stock decreased 3.35% or $1.3 during the last trading session, hitting $37.46. About 5.50M shares traded hands or 56.70% up from the average. Zions Bancorp (NASDAQ:ZION) has risen 51.52% since April 14, 2016 and is uptrending. It has outperformed by 46.84% the S&P500.
The move comes after 6 months negative chart setup for the $7.70B company. It was reported on Nov, 16 by Barchart.com. We have $35.59 PT which if reached, will make NASDAQ:ZION worth $385.00 million less.

Zions Bancorp (NASDAQ:ZION) Ratings Coverage

Out of 21 analysts covering Zions Bancorporation (NASDAQ:ZION), 10 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 48% are positive. Zions Bancorporation has been the topic of 60 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Zacks upgraded Zions Bancorp (NASDAQ:ZION) on Monday, August 31 to “Hold” rating. As per Tuesday, August 18, the company rating was upgraded by Barclays Capital. The firm has “Buy” rating by Goldman Sachs given on Wednesday, September 16. The rating was maintained by Raymond James on Tuesday, September 13 with “Buy”. The firm has “Neutral” rating by Piper Jaffray given on Monday, October 10. Compass Point maintained Zions Bancorp (NASDAQ:ZION) on Thursday, May 12 with “Neutral” rating. The company was maintained on Tuesday, January 26 by UBS. The stock of Zions Bancorp (NASDAQ:ZION) earned “Hold” rating by Jefferies on Wednesday, July 27. The firm has “Hold” rating by Evercore given on Tuesday, April 26. The firm earned “Overweight” rating on Friday, October 9 by Barclays Capital.

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 2016 Q2. 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.
Gemmer Asset Mngmt Ltd Llc has invested 0.01% of its portfolio in Zions Bancorp (NASDAQ:ZION). Massmutual Communication Fsb Adv reported 44,543 shares or 0% of all its holdings. Tudor Inv Et Al last reported 0.01% of its portfolio in the stock. Trafelet Brokaw Cap Mngmt Ltd Partnership, a New York-based fund reported 1,800 shares. Clinton Grp Inc last reported 191,799 shares in the company. Lsv Asset last reported 0.01% of its portfolio in the stock. Bnp Paribas Arbitrage last reported 0.01% of its portfolio in the stock. Royal Commercial Bank Of Canada, a Ontario – Canada-based fund reported 646,109 shares. Clover Ptnrs L P last reported 164,089 shares in the company. Federated Invsts Inc Pa holds 0% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 3,597 shares. Millennium Ltd Limited Liability Company has invested 0.3% of its portfolio in Zions Bancorp (NASDAQ:ZION). Liberty Mutual Gru Asset Mgmt last reported 0.01% of its portfolio in the stock. Moreover, Whittier Trust Company Of Nevada Inc has 0% invested in Zions Bancorp (NASDAQ:ZION) for 303 shares. Swiss Bancshares has 0.01% invested in the company for 341,000 shares. Eaton Vance last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since May 17, 2016, the stock had 0 buys, and 11 sales for $4.45 million net activity. Shares for $1.35 million were sold by Young Mark Richard. $322,580 worth of shares were sold by LAURSEN THOMAS E on Thursday, October 27. 5,000 shares with value of $139,620 were sold by ANDERSON A SCOTT on Friday, May 27. Morris Michael sold $240,649 worth of stock or 8,634 shares. Haun Dallas E had sold 4,500 shares worth $118,807. Another trade for 3,981 shares valued at $111,474 was made by BLACKFORD DAVID E on Thursday, May 26. 9,000 shares with value of $251,730 were sold by Maio Keith D on Friday, July 29.

More notable recent Zions Bancorp (NASDAQ:ZION) news were published by: Marketwatch.com which released: “Zions Bancorp profit rises 26%” on October 24, 2016, also Schaeffersresearch.com with their article: “Analyst Update: Capital One Financial Corp., Zions Bancorp, and Fifth Third …” published on November 16, 2016, Thestreet.com published: “Zions Bancorp (ZION) Stock Edges Down in After-Hours Trade After Q3 Results” on October 24, 2016. More interesting news about Zions Bancorp (NASDAQ:ZION) were released by: Nasdaq.com and their article: “New Stock Buys Of Top Mutual Funds: Netflix, Zions Bancorp, Chip Stocks” published on November 04, 2016 as well as Seekingalpha.com‘s news article titled: “Zions Bancorp. (ZION) Q3 2016 Results – Earnings Call Transcript” with publication date: October 25, 2016.

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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