Price Action To Observe: How Analysts Feel About Zions Bancorp After Achieving 52-Week High?

Price Action To Observe: How Analysts Feel About Zions Bancorp After Achieving 52 Week High?

The stock of Zions Bancorp (NASDAQ:ZION) hit a new 52-week high and has $40.97 target or 5.00% above today’s $39.02 share price. The 5 months bullish chart indicates low risk for the $7.97B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $40.97 price target is reached, the company will be worth $398.50M 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 1.57M shares traded hands. Zions Bancorp (NASDAQ:ZION) has risen 44.69% since April 21, 2016 and is uptrending. It has outperformed by 39.36% 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 $106.18 million for 18.76 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.

Zions Bancorp (NASDAQ:ZION) Ratings Coverage

Out of 22 analysts covering Zions Bancorporation (NASDAQ:ZION), 8 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 36% are positive. Zions Bancorporation has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Tuesday, August 18 by Barclays Capital. The stock has “Neutral” rating given by Piper Jaffray on Monday, October 10. Evercore downgraded the stock to “Hold” rating in Tuesday, April 26 report. Compass Point maintained Zions Bancorp (NASDAQ:ZION) on Friday, January 29 with “Buy” rating. As per Tuesday, November 22, the company rating was downgraded by Macquarie Research. FBR Capital downgraded Zions Bancorp (NASDAQ:ZION) on Tuesday, October 11 to “Mkt Perform” rating. The firm has “Best Ideas List” rating given on Tuesday, July 21 by Guggenheim. As per Wednesday, September 16, the company rating was upgraded by Goldman Sachs. JP Morgan maintained Zions Bancorp (NASDAQ:ZION) on Tuesday, April 26 with “Neutral” rating. As per Wednesday, July 27, the company rating was maintained by Jefferies.

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 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.
Seizert Lc owns 1.83M shares or 1.75% of their US portfolio. Nationwide Fund, a Pennsylvania-based fund reported 84,667 shares. Schneider Capital Management owns 27,918 shares or 0.13% of their US portfolio. Clinton Group Inc has 0.21% invested in the company for 191,799 shares. Ladenburg Thalmann Fincl Services holds 10,848 shares or 0% of its portfolio. Salient Cap Advsrs Limited Liability Company has invested 0.01% of its portfolio in Zions Bancorp (NASDAQ:ZION). Jpmorgan Chase And accumulated 0.04% or 7.07M shares. Deutsche Financial Bank Ag has 0.01% invested in the company for 464,906 shares. Fifth Third Comml Bank accumulated 0.02% or 103,552 shares. Aperio Grp Inc Ltd holds 81,414 shares or 0.02% of its portfolio. Orrstown Fincl Svcs Inc has 100 shares for 0% of their US portfolio. Los Angeles Capital Mngmt & Equity Research has 0.02% invested in the company for 107,160 shares. 1832 Asset Mngmt Ltd Partnership holds 0.04% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 431,400 shares. Qs Investors Ltd owns 2,608 shares or 0% of their US portfolio. Tiaa Cref Investment Mngmt Lc has invested 0.06% of its portfolio in Zions Bancorp (NASDAQ:ZION).

Insider Transactions: Since May 25, 2016, the stock had 0 insider buys, and 11 insider sales for $5.48 million net activity. $583,132 worth of Zions Bancorp (NASDAQ:ZION) was sold by Morris Michael. $99,659 worth of Zions Bancorp (NASDAQ:ZION) was sold by LAURSEN THOMAS E on Wednesday, May 25. ANDERSON A SCOTT sold $139,620 worth of stock or 5,000 shares. 18,608 Zions Bancorp (NASDAQ:ZION) shares with value of $713,589 were sold by ALEXANDER BRUCE K. Another trade for 65,000 shares valued at $1.35M was made by Young Mark Richard on Wednesday, August 17. Another trade for 9,000 shares valued at $251,730 was sold by Maio Keith D. $111,474 worth of Zions Bancorp (NASDAQ:ZION) was sold by BLACKFORD DAVID E on Thursday, May 26.

More important recent Zions Bancorp (NASDAQ:ZION) news were published by: Marketwatch.com which released: “Zions Bancorp profit rises 26%” on October 24, 2016, also Seekingalpha.com published article titled: “Zions Bancorp: Strong 3Q”, Seekingalpha.com published: “Zions Bancorp. (ZION) Q3 2016 Results – Earnings Call Transcript” on October 25, 2016. More interesting news about Zions Bancorp (NASDAQ:ZION) was released by: Nasdaq.com and their article: “New Stock Buys Of Top Mutual Funds: Netflix, Zions Bancorp, Chip Stocks” with publication date: November 04, 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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