Zions Bancorporation (ZION) is Upgraded by Piper Jaffray to Overweight, Price Target at $29

Zions Bancorporation (ZION) was Upgraded by Piper Jaffray to ” Overweight” and the brokerage firm has set the Price Target at $29. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Jul 7, 2016.

Many Wall Street Analysts have commented on Zions Bancorporation. FIG Partners Initiated Zions Bancorporation on Jul 7, 2016 to “Outperform”, Price Target of the shares are set at $29.Zions Bancorporation was Downgraded by BofA/Merrill to ” Underperform” on Jun 29, 2016. Zions Bancorporation was Upgraded by Susquehanna to ” Positive” on Jun 7, 2016.

On the company’s financial health, Zions Bancorporation reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $0.39.Analysts expectations of $ 576.55.During the same quarter in the previous year, the company posted $0.37 EPS.

Zions Bancorporation closed down -1.48 points or -5.94% at $23.44 with 71,21,685 shares getting traded on Tuesday. Post opening the session at $24.47, the shares hit an intraday low of $23.02 and an intraday high of $24.515 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on May 31, 2016, A Scott Anderson (Exec VP and) sold 5,000 shares at $27.92 per share price. According to the SEC, on May 31, 2016, Michael Morris (Executive Vice President) sold 8,634 shares at $27.88 per share price. On May 27, 2016, David E Blackford (Exec Vice President) sold 3,981 shares at $28.00 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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