On Oct 22, major Wall Street analysts update their ratings for $Zions Bancorp (ZION.US)$, with price targets ranging from $51.5 to $57.
Morgan Stanley analyst Manan Gosalia maintains with a hold rating, and adjusts the target price from $54 to $56.
Wells Fargo analyst Mike Mayo maintains with a hold rating, and maintains the target price at $54.
Evercore analyst John Pancari maintains with a buy rating, and maintains the target price at $56.
Baird analyst David George maintains with a hold rating, and adjusts the target price from $52 to $55.
RBC Capital analyst Jon Arfstrom maintains with a hold rating, and adjusts the target price from $55 to $57.
Furthermore, according to the comprehensive report, the opinions of $Zions Bancorp (ZION.US)$'s main analysts recently are as follows:
The third quarter earnings per share for Zions Bancorp showed a comprehensive outperformance, and the forward guidance suggests potential for earnings surpassing analyst expectations. Consequently, expectations for 2025 earnings per share have been increased by 2% due to anticipated growth in net interest income and a reduction in expenses.
Following the Q3 report, there was an enhancement in Zions Bancorp's earnings as a result of net interest income, provision, fees, expenses, and tax rate outperforming the consensus expectations.
Following Q3 earnings that surpassed expectations, the firm has recognized Zions Bancorp's robust core trends. Positive revenue trajectories coupled with disciplined expense management were underscored as the primary achievements. Despite observing some ongoing risk migration in multifamily/commercial classifieds and non-performing assets, the bank's credit costs have been noted as minimal. Additionally, there is an anticipation that loss content will be kept in check moving forward.
The firm noted that Zions Bancorp's core pre-provision net revenue was above expectations and future guidance suggests potential for further positive results. Additionally, the credit quality remains robust.
Zions Bancorp exceeded expectations by 16% on account of capital markets and net interest income performance. Despite net interest income surpassing projections, the bank's rate sensitivity profile remains consistent and elevated compared to its peers. The guidance language persists unchanged, albeit from an increased base.
Here are the latest investment ratings and price targets for $Zions Bancorp (ZION.US)$ from 9 analysts:
Note:
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