Zweig-dimenna Associates adds Zions Bancorporation (ZION) to its portfolio

Zions Bancorporation (ZION) : Zweig-dimenna Associates added new position in Zions Bancorporation during the most recent quarter end. The investment management firm now holds 205,200 shares of Zions Bancorporation which is valued at $5,803,056 , the company said in a statement filed on Aug 8, 2016 with the SEC.Zions Bancorporation makes up approximately 0.56% of Zweig-dimenna Associates’s portfolio.

Other Hedge Funds, Including , Twin Capital Management Inc boosted its stake in ZION in the latest quarter, The investment management firm added 40,650 additional shares and now holds a total of 128,320 shares of Zions Bancorporation which is valued at $3,628,890. Zions Bancorporation makes up approx 0.26% of Twin Capital Management Inc’s portfolio.Calvert Investment Management reduced its stake in ZION by selling 318 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 15,803 shares of ZION which is valued at $456,549. Zions Bancorporation makes up approx 0.02% of Calvert Investment Management’s portfolio. Columbus Circle Investors sold out all of its stake in ZION during the most recent quarter. The investment firm sold 817,348 shares of ZION which is valued $22,452,550.Rice Hall James Associates reduced its stake in ZION by selling 384 shares or 0.45% in the most recent quarter. The Hedge Fund company now holds 85,588 shares of ZION which is valued at $2,394,752. Zions Bancorporation makes up approx 0.13% of Rice Hall James Associates’s portfolio.Nisa Investment Advisors boosted its stake in ZION in the latest quarter, The investment management firm added 4,515 additional shares and now holds a total of 63,712 shares of Zions Bancorporation which is valued at $1,647,592. Zions Bancorporation makes up approx 0.02% of Nisa Investment Advisors’s portfolio.

Zions Bancorporation opened for trading at $28.27 and hit $28.72 on the upside on Monday, eventually ending the session at $28.63, with a gain of 1.74% or 0.49 points. The heightened volatility saw the trading volume jump to 16,36,380 shares. Company has a market cap of $5,872 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. Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Outperform” and Lowered the Price Target to $ 32 from a previous price target of $36 .FIG Partners Initiated Zions Bancorporation on Jul 7, 2016 to “Outperform”, Price Target of the shares are set at $29.Piper Jaffray Upgraded Zions Bancorporation on Jul 7, 2016 to ” Overweight”, Price Target of the shares are set at $29.

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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