Zions Bancorporation (ZION) is Downgraded by Compass Point to Neutral, Lowers Price Target to $ 27

Zions Bancorporation (ZION) was Downgraded by Compass Point to ” Neutral” while Lowering the Price Target of the company shares to $ 27 from a previous price target of $29 . Earlier the firm had a rating of “Buy ” on the company shares. Compass Point advised their investors in a research report released on Apr 13, 2016.

Many Wall Street Analysts have commented on Zions Bancorporation. Shares were Reiterated by Compass Point on Jan 29, 2016 to “Buy” and Lowered the Price Target to $ 29 from a previous price target of $35 .Shares were Reiterated by UBS on Jan 26, 2016 to “Sell” and Lowered the Price Target to $ 20 from a previous price target of $28 .

On the company’s financial health, Zions Bancorporation reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 25, 2016. Analyst had a consensus of $0.42.Analysts expectations of $ 566.35.During the same quarter in the previous year, the company posted $0.36 EPS.

Zions Bancorporation opened for trading at $23.67 and hit $24.11 on the upside on Monday, eventually ending the session at $23.72, with a gain of 1.07% or 0.25 points. The heightened volatility saw the trading volume jump to 19,99,227 shares. Company has a market cap of $4,851 M.

In a different news, on Feb 8, 2016, Stephen D Quinn (director) purchased 100,000 shares at $21.81 per share price. According to the SEC, on Feb 4, 2016, Julie G Castle (Executive Vice President) sold 6,298 shares at $21.31 per share price. On Feb 1, 2016, Harris H Simmons (Chairman, President) purchased 50,000 shares at $22.64 per share price, according to the Form-4 filing with the securities and exchange commission.

Zions Bancorporation is a financial holding company. The Company owns and operates eight commercial banks with a total of approximately 460 domestic branches as of December 31 2014. The Company provides banking and related services through its banking and other subsidiaries primarily in Arizona California Colorado Idaho Nevada New Mexico Oregon Texas Utah Washington and Wyoming. The Company focuses on providing community banking services by its core business lines of small and medium-sized business and corporate banking; commercial and residential development construction and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending; trust and wealth management; limited capital markets activities including municipal finance advisory and underwriting and investment activities.

Zions Bancorporation

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