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Fly News Breaks for July 23, 2019
ZION
Jul 23, 2019 | 07:06 EDT
BMO Capital analyst Lana Chan lowered her price target on Zions Bancorp to $47 and kept her Market Perform rating after its Q2 earnings miss, also lowering her FY19 and FY20 EPS estimates by 20c and 35c to $4.18 and $4.25 respectively. The analyst cites the management's downgrade of the company's 12-month net interest income outlook to "stable-to-slightly decreasing" from "moderate" and expects its net interest margins to remain under pressure as it anticipates the impact of a lower forward interest rate curve from two expected FOMC rate cuts.
News For ZION From the Last 2 Days
ZION
Apr 25, 2024 | 07:20 EDT
ZION
Apr 23, 2024 | 07:15 EDT
ZION
Apr 23, 2024 | 06:46 EDT
UBS lowered the firm's price target on Zions Bancorp to $45 from $47 and keeps a Neutral rating on the shares. While "impressed" by Zions' ability to control deposit costs in a competitive backdrop, the firm thinks the liability sensitive positioning potentially puts the bank in "a precarious spot" in a higher-for-longer rate scenario and coming out of Q1 earnings the firm says it gets the sense that the net interest income trajectory from here is "well understood by the Street."
