Broadview Advisors buys $24,830,584 stake in Zions Bancorporation (ZION)

Zions Bancorporation (ZION) : Broadview Advisors scooped up 74,600 additional shares in Zions Bancorporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 646,125 shares of Zions Bancorporation which is valued at $24,830,584.Zions Bancorporation makes up approximately 3.44% of Broadview Advisors’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. added ZION to its portfolio by purchasing 6,481 company shares during the most recent quarter which is valued at $249,065. Zions Bancorporation makes up approx 0.54% of Qcm Cayman Ltd.’s portfolio.Parkside Financial Bank Trust boosted its stake in ZION in the latest quarter, The investment management firm added 245 additional shares and now holds a total of 358 shares of Zions Bancorporation which is valued at $13,103. Zions Bancorporation makes up approx 0.01% of Parkside Financial Bank Trust’s portfolio.Stephens Inc Ar reduced its stake in ZION by selling 6,396 shares or 4.34% in the most recent quarter. The Hedge Fund company now holds 140,930 shares of ZION which is valued at $5,158,038. Zions Bancorporation makes up approx 0.23% of Stephens Inc Ar’s portfolio. Heartland Advisors Inc added ZION to its portfolio by purchasing 556,678 company shares during the most recent quarter which is valued at $17,474,122. Zions Bancorporation makes up approx 1.07% of Heartland Advisors Inc’s portfolio.

Zions Bancorporation opened for trading at $37.8 and hit $38.42 on the upside on Monday, eventually ending the session at $38.21, with a gain of 0.79% or 0.3 points. The heightened volatility saw the trading volume jump to 34,22,162 shares. Company has a market cap of $7,784 M.

On the company’s financial health, Zions Bancorporation reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 24, 2016. Analyst had a consensus of $0.50.Analysts expectations of $ 602.16.During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Zions Bancorporation. Zions Bancorporation was Downgraded by Morgan Stanley to ” Equal-Weight” on Nov 16, 2016. Zions Bancorporation was Downgraded by Bernstein to ” Mkt Perform” on Nov 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Nov 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $32 .

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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