Revenue Update on Zions Bancorporation(NASDAQ:ZION)

Zions Bancorporation(NASDAQ:ZION) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $590.57M. Analysts estimated a revenue of $588.05M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.41.

In a different note, On Jul 7, 2016, Piper Jaffray said it Upgrades its rating on Zions Bancorporation. The shares have been rated ‘Overweight’ by the firm. On Jun 7, 2016, Susquehanna said it Upgrades its rating on Zions Bancorporation. The shares have been rated ‘Positive’ by the firm. On May 9, 2016, Raymond James said it Upgrades its rating on Zions Bancorporation. The shares have been rated ‘Strong Buy’ by the firm.

Zions Bancorporation (ZION) shares turned negative on Fridays trading session with the shares closing down -0.26 points or -0.92% at a volume of 33,59,088. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.15. The peak price level was also seen at $28.15 while the days lowest was $27.7. Finally the shares closed at $27.88. The 52-week high of the shares is $31.64 while the 52-week low is $19.65. According to the latest information available, the market cap of the company is $5,705 M.

Zions Bancorporation has also declared a cash dividend of $0.0800 on Jul 22, 2016. The shares will quote ex-dividend on Aug 16, 2016 and the record date has been fixed on Aug 18, 2016. The dividend payable date has been fixed on Aug 25, 2016.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Michael Morris (Executive Vice President) sold 8,634 shares at $27.88 per share price.Also, On May 31, 2016, A Scott Anderson (Exec VP and) sold 5,000 shares at $27.92 per share price.On May 27, 2016, David E Blackford (Exec Vice President) sold 3,981 shares at $28.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Zions Bancorporation is a financial holding company. The Company owns and operates eight commercial banks with a total of approximately 460 domestic branches as of December 31 2014. The Company provides banking and related services through its banking and other subsidiaries primarily in Arizona California Colorado Idaho Nevada New Mexico Oregon Texas Utah Washington and Wyoming. The Company focuses on providing community banking services by its core business lines of small and medium-sized business and corporate banking; commercial and residential development construction and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending; trust and wealth management; limited capital markets activities including municipal finance advisory and underwriting and investment activities.

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