Zions Bancorp ZION published weaker-than-expected outcomes for the very first quarter on Monday.
The business reported first-quarter earnings of $795 million, missing out on expert price quotes of $797.07 million, according to Benzinga Pro. The bank reported first-quarter profits of $1.13 per share, missing out on expert price quotes of $1.17 per share.
” Credit quality stayed in excellent shape throughout the quarter, with nonperforming possessions steady compared to last quarter at 0.51% of loans and leases and annualized net charge-offs of 0.11% of loans and leases. At the very same time, the outlook for the economy is maybe more unsure than it’s remained in a variety of years, clouded by the really genuine capacity for unfavorable effects from tariffs and trade policy, both here and abroad,” stated Harris Simmons, chairman and CEO of Zions Bancorp.
Zions Bancorp shares dipped 1.5% to close at $43.62 on Monday.
These experts made modifications to their cost targets on Zions Bancorp following profits statement.
- Stephens & & Co. expert Terry McEvoy kept Zions Bancorp with an Equal-Weight score and decreased the cost target from $54 to $52.
- Baird expert David George kept the stock with a Neutral score and decreased the cost target from $58 to $55.
- Wells Fargo expert Mike Mayo kept Zions Bancorp with an Equal-Weight score and cut the cost target from $58 to $47.
Thinking about purchasing ZION stock? Here’s what experts believe:
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