CLSA Maintains Zions Bancorporation to Buy with Price Target $36.00

Brokerage firm CLSA Maintains its rating on Zions Bancorporation(NASDAQ:ZION). In a research note issued to the investors, the brokerage major Raises the price-target to $36.00 per share. The shares have been rated Buy. The rating by CLSA was issued on Sep 23, 2016.

In a different note, On Sep 20, 2016, Credit Suisse said it Maintains its rating on Zions Bancorporation. In the research note, the firm Raises the price-target to $32.00 per share. The shares have been rated ‘Outperform’ by the firm. On Sep 13, 2016, Raymond James said it Maintains its rating on Zions Bancorporation. In the research note, the firm Raises the price-target to $32.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 16, 2016, Credit Suisse said it Maintains its rating on Zions Bancorporation. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Outperform’ by the firm. On Aug 1, 2016, Morgan Stanley said it Maintains its rating on Zions Bancorporation. In the research note, the firm Raises the price-target to $31.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 27, 2016, Barclays said it Maintains its rating on Zions Bancorporation. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 27, 2016, Jefferies said it Maintains its rating on Zions Bancorporation. In the research note, the firm Raises the price-target to $26.00 per share. The shares have been rated ‘Hold’ by the firm.

Zions Bancorporation (ZION) made into the market gainers list on Tuesdays trading session with the shares advancing 1.30% or 0.39 points. Due to strong positive momentum, the stock ended at $30.41, which is also near the day’s high of $30.45. The stock began the session at $29.85 and the volume stood at 23,43,862 shares. The 52-week high of the shares is $31.28 and the 52 week low is $19.65. The company has a current market capitalization of $6,237 M and it has 20,51,10,870 shares in outstanding.

Zions Bancorporation(ZION) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $590.57M. Analysts had an estimated revenue of $588.05M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On Aug 19, 2016, Mark Richard Young (Exec VP) sold 65,000 shares at $20.72 per share price.Also, On Aug 1, 2016, Keith D Maio (EVP, Chief Banking Officer) sold 9,000 shares at $27.97 per share price.On Aug 1, 2016, David E Blackford (Exec Vice President) sold 1,620 shares at $27.81 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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