Zions Bancorp stock drops on reduced net interest income outlook as other bank stocks rise

Zions Bancorp ZION stock is down 3.5% as other bank stocks moved into positive territory on Tuesday, after the regional bank cut its net interest income outlook to decreasing from moderately decreasing. Analysts at Truist said net interest margin for Zions is now trending towards 2.85%, below the 3.07% consensus estimate by analysts. “We expect shares to underperform today,” Truist analysts said. “We would be buyers on weakness.

5% as other bank stocks moved into positive territory on Tuesday, after the regional bank cut its net interest income outlook to decreasing from moderately decreasing. Analysts at Truist said net interest margin for Zions is now trending towards 2.85%, below the 3.07% consensus estimate by analysts. “We expect shares to underperform today,” Truist analysts said. “We would be buyers on weakness.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 things to know before the stock market opens TuesdayHere are the most important news items that investors need to start their trading day.
Source: CNBC - 🏆 12. / 72 Read more »