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.

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Fuente: CNBC - 🏆 12. / 72 Leer más »