Price Action Don’t Lie: Zions Bancorp on Focus After Trading At 52-Week Highs

Price Action Don't Lie: Zions Bancorp on Focus After Trading At 52 Week Highs

The stock of Zions Bancorp (NASDAQ:ZION) hit a new 52-week high and has $44.79 target or 30.00% above today’s $34.45 share price. The 7 months bullish chart indicates low risk for the $7.05B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $44.79 price target is reached, the company will be worth $2.12 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.52 million shares traded hands or 50.17% up from the average. Zions Bancorp (NASDAQ:ZION) has risen 39.06% since April 7, 2016 and is uptrending. It has outperformed by 34.27% the S&P500.

Zions Bancorp (NASDAQ:ZION) Ratings Coverage

Out of 20 analysts covering Zions Bancorporation (NASDAQ:ZION), 9 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 45% are positive. Zions Bancorporation has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Zions Bancorp (NASDAQ:ZION) earned “Overweight” rating by Barclays Capital on Friday, October 9. UBS maintained Zions Bancorp (NASDAQ:ZION) rating on Tuesday, January 26. UBS has “Sell” rating and $20.0 price target. The rating was maintained by Compass Point with “Neutral” on Thursday, May 12. Keefe Bruyette & Woods downgraded the shares of ZION in a report on Tuesday, October 25 to “Mkt Perform” rating. The rating was downgraded by Piper Jaffray on Monday, October 10 to “Neutral”. The firm has “Hold” rating given on Wednesday, July 27 by Jefferies. The firm has “Outperform” rating by Bernstein given on Tuesday, April 26. Guggenheim upgraded Zions Bancorp (NASDAQ:ZION) on Tuesday, July 21 to “Best Ideas List” rating. The firm has “Hold” rating given on Tuesday, April 26 by Evercore. Raymond James upgraded Zions Bancorp (NASDAQ:ZION) on Monday, May 9 to “Strong 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 Q2 2016. Its down 0.10, from 1.09 in 2016Q1. The ratio fall, 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.
Stephens Inc Ar accumulated 0.17% or 147,326 shares. Kbc Gru Nv reported 75,840 shares or 0.03% of all its holdings. Moreover, Geode Capital Mngmt Limited Liability Corp has 0.02% invested in Zions Bancorp (NASDAQ:ZION) for 1.75M shares. Svcs Automobile Association has 62,571 shares for 0.01% of their US portfolio. Amer International Gru, a New York-based fund reported 75,293 shares. Ladenburg Thalmann Financial Svcs Incorporated holds 0% or 10,848 shares in its portfolio. Balyasny Asset Mgmt Limited last reported 859,633 shares in the company. Endeavour Cap Advsrs Inc accumulated 2.85% or 1.52M shares. Sg Americas Securities Ltd Liability owns 36,918 shares or 0.01% of their US portfolio. Centurylink Comm last reported 0.11% of its portfolio in the stock. Guggenheim Capital has 0.16% invested in the company for 2.08M shares. Monarch Prtnrs Asset Mngmt Lc has invested 1% of its portfolio in Zions Bancorp (NASDAQ:ZION). Ledyard Bank last reported 255 shares in the company. The Ohio-based Elizabeth Park Cap Advsrs Limited has invested 5.52% in Zions Bancorp (NASDAQ:ZION). Deere & Co accumulated 0.01% or 9,486 shares.

Insider Transactions: Since May 17, 2016, the stock had 0 buys, and 11 sales for $3.59 million net activity. STEPHENS STEVEN DAN also sold $270,945 worth of Zions Bancorp (NASDAQ:ZION) on Friday, May 20. On Friday, July 29 BLACKFORD DAVID E sold $45,049 worth of the stock or 1,620 shares. Haun Dallas E sold $118,807 worth of stock or 4,500 shares. The insider ANDERSON A SCOTT sold 5,000 shares worth $139,620. Young Mark Richard also sold $641,949 worth of Zions Bancorp (NASDAQ:ZION) on Monday, November 7. $322,580 worth of Zions Bancorp (NASDAQ:ZION) shares were sold by LAURSEN THOMAS E. Another trade for 8,634 shares valued at $240,649 was made by Morris Michael on Friday, May 27.

More notable recent Zions Bancorp (NASDAQ:ZION) news were published by: Marketwatch.com which released: “Zions Bancorp profit rises 26%” on October 24, 2016, also Thestreet.com with their article: “Zions Bancorp (ZION) Stock Edges Down in After-Hours Trade After Q3 Results” published on October 24, 2016, Nasdaq.com published: “New Stock Buys Of Top Mutual Funds: Netflix, Zions Bancorp, Chip Stocks” on November 04, 2016. More interesting news about Zions Bancorp (NASDAQ:ZION) were released by: Thestreet.com and their article: “Zions Bancorp (ZION) Stock Downgraded at Piper Jaffray” published on October 10, 2016 as well as Seekingalpha.com‘s news article titled: “Zions Bancorp. (ZION) Q3 2016 Results – Earnings Call Transcript” with publication date: October 25, 2016.

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.

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