Zions Bancorporation (ZION) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on Nov 22, 2016.
Many Wall Street Analysts have commented on Zions Bancorporation. Zions Bancorporation was Downgraded by Morgan Stanley to ” Equal-Weight” on Nov 16, 2016. Zions Bancorporation was Downgraded by Bernstein to ” Mkt Perform” on Nov 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Nov 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $32 .
On the company’s financial health, Zions Bancorporation reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 24, 2016. Analyst had a consensus of $0.50.Analysts expectations of $ 602.16.During the same quarter in the previous year, the company posted $0.41 EPS.
Zions Bancorporation opened for trading at $37.8 and hit $38.42 on the upside on Monday, eventually ending the session at $38.21, with a gain of 0.79% or 0.3 points. The heightened volatility saw the trading volume jump to 34,22,162 shares. Company has a market cap of $7,784 M.
In a different news, on Nov 17, 2016, Alexander Hume (Senior Vice President) sold 8,527 shares at $38.48 per share price. According to the SEC, on Nov 14, 2016, Michael Morris (Executive Vice President) sold 18,200 shares at $36.61 per share price. On Nov 8, 2016, Mark Richard Young (Exec VP) sold 19,893 shares at $32.26 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.