Price Action Don’t Lie: What Next for Zions Bancorp Stock After Achieving 52-Week High?

Price Action Don't Lie: What Next for Zions Bancorp Stock After Achieving 52 Week High?

The stock of Zions Bancorp (NASDAQ:ZION) hit a new 52-week high and has $42.79 target or 8.00% above today’s $39.62 share price. The 8 months bullish chart indicates low risk for the $8.09 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $42.79 price target is reached, the company will be worth $647.20M 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 1.16 million shares traded hands. Zions Bancorp (NASDAQ:ZION) has risen 38.29% since April 27, 2016 and is uptrending. It has outperformed by 33.06% the S&P500.

Analysts await Zions Bancorp (NASDAQ:ZION) to report earnings on January, 23. They expect $0.52 EPS, up 20.93% or $0.09 from last year’s $0.43 per share. ZION’s profit will be $106.15M for 19.05 P/E if the $0.52 EPS becomes a reality. After $0.57 actual EPS reported by Zions Bancorp for the previous quarter, Wall Street now forecasts -8.77% negative EPS growth.

Zions Bancorp (NASDAQ:ZION) Ratings Coverage

Out of 22 analysts covering Zions Bancorporation (NASDAQ:ZION), 9 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 41% are positive. $40 is the highest target while $1 is the lowest. The $29.19 average target is -26.33% below today’s ($39.62) stock price. Zions Bancorporation has been the topic of 64 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Zions Bancorp (NASDAQ:ZION) has “Sell” rating given on Tuesday, April 26 by UBS. On Thursday, May 12 the stock rating was maintained by Compass Point with “Neutral”. The firm earned “Neutral” rating on Monday, October 10 by Piper Jaffray. The stock of Zions Bancorp (NASDAQ:ZION) has “Hold” rating given on Tuesday, April 26 by Evercore. The firm has “Buy” rating given on Wednesday, September 16 by Goldman Sachs. Compass Point maintained the stock with “Buy” rating in Friday, January 29 report. The stock of Zions Bancorp (NASDAQ:ZION) earned “Neutral” rating by Macquarie Research on Tuesday, November 22. As per Tuesday, July 21, the company rating was upgraded by Guggenheim. Macquarie Research maintained it with “Outperform” rating and $31 target price in Tuesday, April 26 report. The rating was maintained by Raymond James with “Buy” on Tuesday, September 13.

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 increased to 1.13 in 2016 Q2. Its up 0.14, from 0.99 in 2016Q1. The ratio increased, 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.
Gam Ag has invested 0.03% of its portfolio in Zions Bancorp (NASDAQ:ZION). Orrstown Serv last reported 0% of its portfolio in the stock. Everence Management last reported 9,110 shares in the company. Cramer Rosenthal Mcglynn Limited Liability reported 709,425 shares or 0.29% of all its holdings. Parkside Bancorp And Trust accumulated 0% or 113 shares. Wfg L P, a Texas-based fund reported 1 shares. Morgan Stanley has invested 0.01% of its portfolio in Zions Bancorp (NASDAQ:ZION). Los Angeles And Equity holds 0.02% or 107,160 shares in its portfolio. Fiduciary Mgmt Wi has 1.34M shares for 0.21% of their US portfolio. Rmb Cap Mngmt Ltd Liability Company holds 27 shares or 0% of its portfolio. Moreover, Fmr Limited Liability Corp has 0.01% invested in Zions Bancorp (NASDAQ:ZION) for 3.01 million shares. Teton reported 95,332 shares or 0.22% of all its holdings. Consector Capital L P accumulated 7.76% or 132,250 shares. American Int Grp accumulated 75,293 shares or 0% of the stock. Suntrust Banks reported 20,155 shares or 0% of all its holdings.

Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 11 sales for $5.48 million net activity. Maio Keith D also sold $251,730 worth of Zions Bancorp (NASDAQ:ZION) shares. Shares for $45,049 were sold by BLACKFORD DAVID E on Friday, July 29. Schreiber Edward sold $302,400 worth of Zions Bancorp (NASDAQ:ZION) on Friday, November 18. The insider Young Mark Richard sold $1.35M. $322,580 worth of shares were sold by LAURSEN THOMAS E on Thursday, October 27. The insider Hume Alexander sold $445,796. 4,259 shares were sold by James Dianne R, worth $162,880.

Another recent and important Zions Bancorp (NASDAQ:ZION) news was published by Nasdaq.com which published an article titled: “New Stock Buys Of Top Mutual Funds: Netflix, Zions Bancorp, Chip Stocks” on November 04, 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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