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

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Zions Bancorp 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...

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria 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 »