A Reversal for Zions Bancorp Is Not Near. Professional Options Traders Are Bullish

 A Reversal for Zions Bancorp Is Not Near. Professional Options Traders Are Bullish

In today’s session Zions Bancorp (ZION) registered an unusually high (365) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious ZION increase. With 365 contracts traded and 3604 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: ZION161118C00031000 closed last at: $1.05 or 23.5% up. About 568,421 shares traded hands. Zions Bancorp (NASDAQ:ZION) has risen 23.44% since March 15, 2016 and is uptrending. It has outperformed by 17.95% the S&P500.

Zions Bancorp (NASDAQ:ZION) Ratings Coverage

Out of 19 analysts covering Zions Bancorporation (NASDAQ:ZION), 9 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 47% are positive. Zions Bancorporation has been the topic of 57 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Tuesday, June 7 the stock rating was upgraded by Susquehanna to “Positive”. The rating was maintained by UBS on Tuesday, January 26 with “Sell”. Macquarie Research maintained it with “Outperform” rating and $31 target price in Tuesday, April 26 report. Barclays Capital upgraded it to “Overweight” rating and $40 target price in Tuesday, August 18 report. The stock of Zions Bancorp (NASDAQ:ZION) earned “Outperform” rating by Credit Suisse on Tuesday, April 26. Piper Jaffray downgraded Zions Bancorp (NASDAQ:ZION) on Monday, October 10 to “Neutral” rating. Bernstein maintained Zions Bancorp (NASDAQ:ZION) on Tuesday, April 26 with “Outperform” rating. The firm has “Neutral” rating given on Thursday, May 12 by Compass Point. Evercore downgraded the shares of ZION in a report on Tuesday, April 26 to “Hold” rating. The rating was maintained by Credit Suisse on Tuesday, August 16 with “Outperform”.

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 Q2 2016. Its down 0.10, from 1.09 in 2016Q1. The ratio dived, 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.
Clover Prns Ltd Partnership owns 164,089 shares or 1.63% of their US portfolio. Consector Cap Limited Partnership holds 132,250 shares or 7.76% of its portfolio. Moreover, Blackrock Grp Ltd has 0.01% invested in Zions Bancorp (NASDAQ:ZION) for 884,464 shares. Yost Cap Limited Liability Com reported 451,740 shares or 6.17% of all its holdings. Victory Cap Management Inc last reported 1.01 million shares in the company. Whittier Tru Communications holds 408 shares or 0% of its portfolio. Comerica Comml Bank last reported 51,133 shares in the company. Texas Permanent School Fund accumulated 0.02% or 66,389 shares. Two Sigma Limited Co holds 16,340 shares or 0.22% of its portfolio. Guggenheim Capital Lc holds 2.08 million shares or 0.16% of its portfolio. Price T Rowe Assocs Md holds 0% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 385,273 shares. Jane Street Gru Inc Ltd Com has 25,102 shares for 0% of their US portfolio. Employees Retirement Sys Of Texas, a Texas-based fund reported 13,000 shares. Ngam Advisors Lp last reported 15,222 shares in the company. Glob X Ltd Liability Company accumulated 28 shares or 0% of the stock.

Insider Transactions: Since April 28, 2016, the stock had 1 insider purchase, and 13 insider sales for $3.14 million net activity. On Thursday, April 28 the insider BLACKFORD DAVID E sold $111,081. 10,171 Zions Bancorp (NASDAQ:ZION) shares with value of $281,395 were sold by Castle Julie G. The insider ALEXANDER BRUCE K sold $145,179. Haun Dallas E sold $64,485 worth of stock or 2,500 shares. The insider LAURSEN THOMAS E sold 3,500 shares worth $99,659. Young Mark Richard sold 65,000 shares worth $1.35 million. Shares for $240,649 were sold by Morris Michael on Friday, May 27.

Zions Bancorporation is a financial holding company. The company has a market cap of $6.25 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 18.32 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 recent Zions Bancorp (NASDAQ:ZION) news were published by: Thestreet.com which released: “Zions Bancorp (ZION) Stock Downgraded at Piper Jaffray” on October 10, 2016. Also Investorplace.com published the news titled: “Trade of the Day: Zions Bancorp (NASDAQ:ZION)” on September 26, 2016. Seekingalpha.com‘s news article titled: “Zions Bancorp estimates raised at Credit Suisse” with publication date: September 20, 2016 was also an interesting one.

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