Consector Capital Lp Lowers stake in Zions Bancorporation (ZION)

Zions Bancorporation (ZION) : Consector Capital Lp reduced its stake in Zions Bancorporation by 18.62% during the most recent quarter end. The investment management company now holds a total of 132,250 shares of Zions Bancorporation which is valued at $3,721,515 after selling 30,250 shares in Zions Bancorporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Zions Bancorporation makes up approximately 7.99% of Consector Capital Lp’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management reduced its stake in ZION by selling 50,128 shares or 80.03% in the most recent quarter. The Hedge Fund company now holds 12,509 shares of ZION which is valued at $352,003.Blackrock Institutional Trust Company N.a. reduced its stake in ZION by selling 72,326 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 5,298,703 shares of ZION which is valued at $149,105,502. Zions Bancorporation makes up approx 0.02% of Blackrock Institutional Trust Company N.a.’s portfolio.Rs Investment Management Co reduced its stake in ZION by selling 581,270 shares or 26.28% in the most recent quarter. The Hedge Fund company now holds 1,630,599 shares of ZION which is valued at $45,624,160. Zions Bancorporation makes up approx 0.45% of Rs Investment Management Co’s portfolio.Louisiana State Employees Retirement System reduced its stake in ZION by selling 300 shares or 2.19% in the most recent quarter. The Hedge Fund company now holds 13,400 shares of ZION which is valued at $374,932. Zions Bancorporation makes up approx 0.02% of Louisiana State Employees Retirement System’s portfolio.

Zions Bancorporation opened for trading at $29.75 and hit $30.26 on the upside on Monday, eventually ending the session at $30.01, with a gain of 1.15% or 0.34 points. The heightened volatility saw the trading volume jump to 26,90,234 shares. Company has a market cap of $6,155 M.

On the company’s financial health, Zions Bancorporation reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $0.39.Analysts expectations of $ 576.55.During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Zions Bancorporation. Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Outperform” and Lowered the Price Target to $ 32 from a previous price target of $36 .FIG Partners Initiated Zions Bancorporation on Jul 7, 2016 to “Outperform”, Price Target of the shares are set at $29.Piper Jaffray Upgraded Zions Bancorporation on Jul 7, 2016 to ” Overweight”, Price Target of the shares are set at $29.

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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