Zions Bancorporation (ZION) Shares are Down -2.6%

Zions Bancorporation (ZION) has risen sharply, recording gains of 8.19% in the past 4 weeks. However, the stock has corrected -2.6% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 7.08% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

The stock has recorded a 20-day Moving Average of 3.17% and the 50-Day Moving Average is 5.28%. Zions Bancorporation (NASDAQ:ZION): On Fridays trading session , Opening price of the stock was $28.06 with an intraday high of $28.15. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $27.77. However, the stock managed to close at $28.14, a loss of 0.50% for the day. On the previous day, the stock had closed at $28.28. The total traded volume of the day was 1,530,680 shares.


The company Insiders own 2.06% of Zions Bancorporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -12.22% . Institutional Investors own 91.57% of Zions Bancorporation shares. During last six month period, the net percent change held by insiders has seen a change of -12.56%. Also, Morgan Stanley maintains its rating on Zions Bancorporation (NASDAQ:ZION). The global brokerage major raises the current price target from $31 per share to $33 per share. Analysts at the Morgan Stanley have a current rating of Overweight on the shares. The rating by the firm was issued on August 1, 2016.

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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