Zions Bancorporation (ZION) is Downgraded by FBR & Co. to Mkt Perform, Price Target at $32

Zions Bancorporation (ZION) was Downgraded by FBR & Co. to ” Mkt Perform” and the brokerage firm has set the Price Target at $32. Earlier the firm had a rating of “Outperform ” on the company shares. FBR & Co. advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on Zions Bancorporation. Zions Bancorporation was Downgraded by Piper Jaffray to ” Neutral” on Oct 10, 2016. 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 .

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 opened for trading at $31.71 and hit $31.86 on the upside on Friday, eventually ending the session at $31.73, with a gain of 0.16% or 0.05 points. The heightened volatility saw the trading volume jump to 25,47,163 shares. Company has a market cap of $6,508 M.

In a different news, on Aug 19, 2016, Mark Richard Young (Exec VP) sold 65,000 shares at $20.72 per share price. According to the SEC, on Aug 1, 2016, Keith D Maio (EVP, Chief Banking Officer) sold 9,000 shares at $27.97 per share price. On Aug 1, 2016, David E Blackford (Exec Vice President) sold 1,620 shares at $27.81 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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