Truist downgraded Zions Bancorp to Hold from Buy with a price target of $46, down from $51. While Zions is positioned to benefit from securities portfolio runoff over the next several quarters, muted loan growth, above peer balance sheet asset sensitivity, and some expense pressure will likely limit earnings upside, says the analyst. The firm’s 2024 EPS estimate is 1% below consensus estimates and its 2025 EPS estimate is 9% below consensus, the analyst noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ZION:
- Zions Bancorp put volume heavy and directionally bearish
- Zions Bancorp price target raised to $47 from $35 at Barclays
- Zions Bancorp price target raised to $46 from $38 at Stephens
- Zions Bancorp price target raised by $11 at Truist, here’s why
- Zions Bancorp price target raised to $51 from $40 at Truist
