Zions Bancorp fundamental trends to remain stable, says RBC Capital

RBC Capital analyst Jon Arfstrom keeps a Sector Perform rating and $45 price target on Zions Bancorp after its Q4 results. The company’s core trends generally met expectations, with the lack of a provision seen as the primary driver of higher EPS against consensus, the analyst tells investors in a research note. Zions’ new 2024 outlook was relatively consistent with recent guidance updates, and the bank’s fundamental trends should remain stable over the year, the firm added.