Zions Bancorporation (ZION) reported strong third-quarter financial results, exceeding both earnings and revenue expectations. The bank’s CEO highlighted key growth areas, including a 21% increase in earnings per share and a strengthening net interest margin. Following the positive announcement, several analysts upgraded their price targets on ZION stock.
Zions Bancorporation (NASDAQ: ZION) reported solid results in its first-quarter earnings, signaling improving trends. Pre-provision net revenue exceeded expectations, driven by higher net interest margin and lower expenses. Loan growth remained steady, while deposits declined slightly due to seasonal factors. The company’s valuation remains attractive, trading at 1.2x book value and a forward ROE of 11%. Analysts continue to rate the stock a ‘buy’ given its positive rate outlook.
Zions Bancorporation reported a decline in first-quarter revenue, but adjusted earnings per share (EPS) surpassed analyst expectations. Despite the revenue miss, the company saw improvement in its net interest margin and loan growth. Analysts made adjustments to their price targets on Zions Bancorporation following the earnings announcement, with RBC Capital raising its target to $47 and UBS lowering its target to $45.
U.S. stocks surged on Monday as the CNN Money Fear and Greed Index moved towards neutral territory. The S&P 500 ended its six-day losing stretch, while all sectors recorded gains. Zions Bancorporation performed exceptionally well, with shares rising by 4% post-earnings. In contrast, Verizon Communications witnessed a 5% decline after reporting its first-quarter results. Key economic indicators, including the Chicago Fed National Activity Index, exhibited positive movement. Investors now anticipate earnings announcements from Tesla, General Motors, Visa, and PepsiCo.
