Bullish Options Activity on Zions Bancorp Surges After Better Fundamentals

 Bullish Options Activity on Zions Bancorp Surges After Better Fundamentals

In today’s session Zions Bancorp (ZION) registered an unusually high (224) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious ZION increase. With 224 contracts traded and 21154 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: ZION161021C00029000 closed last at: $3.05 or 18.7% up. About 1.21 million shares traded hands. Zions Bancorp (NASDAQ:ZION) has risen 30.16% since March 4, 2016 and is uptrending. It has outperformed by 22.12% the S&P500.

Analysts await Zions Bancorp (NASDAQ:ZION) to report earnings on October, 17. They expect $0.50 earnings per share, up 21.95% or $0.09 from last year’s $0.41 per share. ZION’s profit will be $102.10M for 15.75 P/E if the $0.50 EPS becomes a reality. After $0.44 actual earnings per share reported by Zions Bancorp for the previous quarter, Wall Street now forecasts 13.64% EPS growth.

Zions Bancorp (NASDAQ:ZION) Ratings Coverage

Out of 18 analysts covering Zions Bancorporation (NASDAQ:ZION), 9 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 50% are positive. Zions Bancorporation has been the topic of 55 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock with “Overweight” rating in Friday, October 9 report. The firm has “Strong Buy” rating by Raymond James given on Monday, May 9. The rating was downgraded by Raymond James on Thursday, October 6 to “Mkt Perform”. The stock of Zions Bancorp (NASDAQ:ZION) earned “Hold” rating by Zacks on Monday, August 31. The stock of Zions Bancorp (NASDAQ:ZION) has “Outperform” rating given on Tuesday, August 16 by Credit Suisse. The firm earned “Buy” rating on Wednesday, August 5 by Sandler O’Neill. Bernstein maintained the shares of ZION in a report on Tuesday, April 26 with “Outperform” rating. Barclays Capital maintained Zions Bancorp (NASDAQ:ZION) on Wednesday, July 27 with “Overweight” rating. The firm has “Outperform” rating given on Tuesday, April 26 by Credit Suisse. Compass Point maintained Zions Bancorp (NASDAQ:ZION) on Friday, January 29 with “Buy” rating.

According to Zacks Investment Research, “Zions Bancorporation is a multi-bank holding company. Zions focuses on maintaining community-minded banking by strengthening its core business lines of retail banking, small and medium-sized business lending, residential mortgage and investment activities. The banks provide a wide variety of commercial and retail banking and mortgage-lending financial services. Commercial loans, lease financing, cash management, lockbox, customized draft processing, and other special financial services are provided for business and other commercial banking customers.”

Insitutional Activity: The institutional sentiment decreased to 0.99 in 2016 Q2. Its down 0.10, from 1.09 in 2016Q1. The ratio is negative, as 35 funds sold all Zions Bancorp shares owned while 110 reduced positions. 41 funds bought stakes while 102 increased positions. They now own 179.67 million shares or 2.27% less from 183.83 million shares in 2016Q1.
Lmr Prtn Llp accumulated 0.12% or 29,562 shares. Moreover, Asset Mgmt Incorporated has 0.02% invested in Zions Bancorp (NASDAQ:ZION) for 19,331 shares. Aberdeen Asset Mngmt Public Ltd Com Uk owns 36,994 shares or 0% of their US portfolio. Henderson Group Inc Plc owns 7,505 shares or 0% of their US portfolio. Moreover, Prudential has 0.01% invested in Zions Bancorp (NASDAQ:ZION) for 345,596 shares. Aqr Management Ltd Liability Co holds 0% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 8,025 shares. Proshare Advsrs Limited Liability accumulated 53,840 shares or 0.02% of the stock. Creative Planning has 821 shares for 0% of their US portfolio. The Ontario – Canada-based Manufacturers Life Insur The has invested 0.07% in Zions Bancorp (NASDAQ:ZION). Ent Fin Services Corp, a Missouri-based fund reported 42 shares. State Of Alaska Department Of Revenue holds 16,115 shares or 0.04% of its portfolio. Blackrock Advsr Limited Liability last reported 82,826 shares in the company. Acadian Asset Ltd has 4,654 shares for 0% of their US portfolio. Ridgeworth Capital Mngmt Limited Liability Corporation has 1.68M shares for 0.37% of their US portfolio. Millennium Ltd Company owns 5.14 million shares or 0.3% of their US portfolio.

Insider Transactions: Since April 28, 2016, the stock had 1 buying transaction, and 13 insider sales for $3.14 million net activity. 5,224 shares with value of $145,179 were sold by ALEXANDER BRUCE K on Thursday, April 28. LAURSEN THOMAS E also sold $99,659 worth of Zions Bancorp (NASDAQ:ZION) shares. 3,981 shares were sold by BLACKFORD DAVID E, worth $111,474 on Thursday, May 26. Shares for $64,485 were sold by Haun Dallas E on Thursday, May 5. $1.35 million worth of shares were sold by Young Mark Richard on Wednesday, August 17. 9,000 Zions Bancorp (NASDAQ:ZION) shares with value of $251,730 were sold by Maio Keith D. Murphy Edward F bought $88,864 worth of Zions Bancorp (NASDAQ:ZION) on Thursday, April 28.

Zions Bancorporation is a financial holding company. The company has a market cap of $6.43 billion. The Firm operates through seven divisions: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It has a 18.81 P/E ratio. It focuses on providing community banking services and its core business lines are small and medium-sized business and corporate banking; commercial and residential development, construction and term lending; retail banking; treasury cash management and related services and products; residential mortgage servicing and lending; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.

ZION Company Profile

Zions Bancorporation, incorporated on April 25, 1955, is a financial holding company. The Firm conducts its banking activities through seven separately managed and branded divisions: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. The Firm owns and operates a commercial bank with approximately 450 domestic branches. The Firm provides a range of banking and related services, primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming.

More news for Zions Bancorp (NASDAQ:ZION) were recently published by: Investorplace.com, which released: “Trade of the Day: Zions Bancorp (NASDAQ:ZION)” on September 26, 2016. Seekingalpha.com‘s article titled: “Zions Bancorp estimates raised at Credit Suisse” and published on September 20, 2016 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment