Trading was heavy with 4,487K shares changing hands on Tuesday. Trading volume was up 89.87% over the stocks average daily volume.
Traders are feeling more bullish on shares of the company as implied by the fall in short interest. The stock saw a fall in short interest from September 29, 2017 to October 13, 2017 of -0.72%. Short shares decreased 130,613 over that period. Days to cover increased from 8.0 to 11.0 and the percentage of shorted shares was 0.09% on October 13.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Commonwealth Of Pennsylvania Public School Empls Retrmt SYS had acquired 1,388 shares growing its position 9.2%. The value in dollars went from $661,000 to $776,000 a change of 17.4% since the last quarter. Raymond James & Associates trimmed its position by shedding 1,054 shares a decrease of 2.4% in the quarter. Raymond James & Associates owns 42,857 shares valued at $2,022,000. The total value of its holdings increased 4.9%.
As of quarter end Great Lakes Advisors, LLC had bought a total of 18,766 shares growing its holdings by 8.5%. The value of the investment in ZION increased from $9,665,000 to $11,270,000 a change of $1,605,000 for the reporting period. As of the end of the quarter Basswood Capital Management, L.l.c. had sold 225,272 shares trimming its stake by 37.9%. The value of the investment in (ZION) decreased from $26,081,000 to $17,395,000 decreasing 33.3% quarter over quarter.
On October 24, 2017 Barclays PLC released guidance on ZION and giving a rating of “Overweight” and price target of $52.00. Royal Bank Of Canada raised the price target on October 24 boosting the projection from $51.00 to $53.00 and stated a “Outperform” rating.
On October 24 Piper Jaffray Companies kept the stock rating at “Hold” targeting a price of $44.00. October 24 investment analysts at FBR & Co maintained a company rating of “Buy” projecting a price of $54.00.
On October 12 Jefferies Group LLC left the stock rating at “Buy” with a current price target of $54.00. On October 4 Morgan Stanley made no change to the stock rating of “Equal Weight” projecting a price of $49.00.
In the market the company is trading up by 0.67% percent from yesterday’s close. The P/E ratio is 17.52 and the market cap is 9.35B. In the last earnings report the EPS was $2.67 with 199.74M shares presently outstanding.
Zions Bancorporation, launched on April 25, 1955, is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other. The Company provides a range of banking and related services, primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming..