Is Buying Stock Like Zions Bancorp Good Idea After Today’s Bearish Options Activity?

 Is Buying Stock Like Zions Bancorp Good Idea After Today's Bearish Options Activity?

In today’s session Zions Bancorp (ZION) recorded an unusually high (1,680) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious ZION decrease. With 1,680 contracts traded and 3964 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: ZION161216P00037000 closed last at: $0.43 or 6.5% down. About 494,575 shares traded hands. Zions Bancorp (NASDAQ:ZION) has risen 44.64% since April 28, 2016 and is uptrending. It has outperformed by 38.71% 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 $109.47 million for 19.37 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 -27.53% below today’s ($40.28) stock price. Zions Bancorporation has been the topic of 64 analyst reports since July 21, 2015 according to StockzIntelligence Inc. UBS maintained it with “Sell” rating and $20.0 target price in Tuesday, January 26 report. The firm has “Mkt Perform” rating given on Wednesday, November 16 by Bernstein. Jefferies maintained the stock with “Hold” rating in Wednesday, July 27 report. As per Tuesday, April 26, the company rating was maintained by JP Morgan. The rating was maintained by FBR Capital with “Mkt Perform” on Tuesday, October 25. The stock of Zions Bancorp (NASDAQ:ZION) has “Mkt Perform” rating given on Thursday, October 6 by Raymond James. As per Tuesday, November 22, the company rating was downgraded by Macquarie Research. The stock of Zions Bancorp (NASDAQ:ZION) has “Positive” rating given on Tuesday, June 7 by Susquehanna. The company was upgraded on Monday, May 9 by Raymond James. Evercore downgraded the stock to “Hold” rating in Tuesday, April 26 report.

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 Q2 2016. Its up 0.14, from 0.99 in 2016Q1. The ratio improved, 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.
Ladenburg Thalmann Service, a Florida-based fund reported 10,848 shares. Two Sigma Ltd Liability holds 16,340 shares or 0.22% of its portfolio. Creative Planning has 821 shares for 0% of their US portfolio. Neuberger Berman Group Limited Liability Corp has 0% invested in the company for 18,136 shares. Moreover, Wfg Advsrs Lp has 0% invested in Zions Bancorp (NASDAQ:ZION) for 1 shares. Balyasny Asset Limited Com last reported 859,633 shares in the company. Rmb Capital Ltd Llc, a Illinois-based fund reported 27 shares. Quantbot Limited Partnership accumulated 0.25% or 92,960 shares. Swiss Financial Bank, a Switzerland-based fund reported 341,000 shares. Tci Wealth Advsr last reported 0.85% of its portfolio in the stock. Broadview Ltd has 2.15% invested in the company for 571,525 shares. Tiaa Cref Investment Mngmt Limited Liability Com holds 0.06% of its portfolio in Zions Bancorp (NASDAQ:ZION) for 2.99 million shares. Tarbox Gp accumulated 74 shares or 0% of the stock. Endeavour Advsrs owns 1.52 million shares or 2.85% of their US portfolio. Alyeska Investment Grp Inc L P has invested 0.22% of its portfolio in Zions Bancorp (NASDAQ:ZION).

Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 12 sales for $6.50 million net activity. Schreiber Edward sold $302,400 worth of stock or 8,000 shares. 9,000 shares were sold by Maio Keith D, worth $251,730. On Friday, July 29 the insider BLACKFORD DAVID E sold $45,049. Young Mark Richard sold $1.35 million worth of stock or 65,000 shares. Shares for $445,796 were sold by Hume Alexander on Tuesday, November 15. Another trade for 18,200 shares valued at $666,262 was sold by Morris Michael. LAURSEN THOMAS E had sold 10,000 shares worth $322,580 on Thursday, October 27.

Zions Bancorporation is a financial holding company. The company has a market cap of $8.48 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 21.99 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.

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.

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