M3f buys $8.8 Million stake in Zions Bancorporation (ZION)

Zions Bancorporation (ZION) : M3f scooped up 275,000 additional shares in Zions Bancorporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 340,000 shares of Zions Bancorporation which is valued at $8.8 Million.Zions Bancorporation makes up approximately 8.18% of M3f’s portfolio.

Other Hedge Funds, Including , Hartford Investment Management Co boosted its stake in ZION in the latest quarter, The investment management firm added 1,450 additional shares and now holds a total of 52,129 shares of Zions Bancorporation which is valued at $1.3 Million. Zions Bancorporation makes up approx 0.03% of Hartford Investment Management Co’s portfolio.Standard Life Investments Ltd boosted its stake in ZION in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 1,711,433 shares of Zions Bancorporation which is valued at $44.3 Million. Zions Bancorporation makes up approx 0.20% of Standard Life Investments Ltd’s portfolio.Massmutual Trust Co Fsbadv boosted its stake in ZION in the latest quarter, The investment management firm added 3,053 additional shares and now holds a total of 45,426 shares of Zions Bancorporation which is valued at $1.2 Million. Zions Bancorporation makes up approx 0.16% of Massmutual Trust Co Fsbadv’s portfolio. Lsv Asset Management added ZION to its portfolio by purchasing 12,400 company shares during the most recent quarter which is valued at $320,912.Great West Life Assurance Co Can reduced its stake in ZION by selling 774 shares or 0.99% in the most recent quarter. The Hedge Fund company now holds 77,757 shares of ZION which is valued at $2.1 Million. Zions Bancorporation makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.

Zions Bancorporation opened for trading at $27.7 and hit $28.48 on the upside on Wednesday, eventually ending the session at $28.17, with a gain of 2.18% or 0.6 points. The heightened volatility saw the trading volume jump to 37,25,290 shares. Company has a market cap of $5,764 M.

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.

Many Wall Street Analysts have commented on Zions Bancorporation. Company shares were Reiterated by Compass Point on May 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .Zions Bancorporation was Upgraded by Raymond James to ” Strong Buy” on May 9, 2016. Company shares were Reiterated by UBS on Apr 26, 2016 to “Sell”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .

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.

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