Market Overview

UPDATE: Citigroup Keeps Neutral, Cuts PT to $20.50 on Zions Bancorp; Lower NIMs

Share:
Related ZION
Bankers Differ On Prospects For Fed Tightening In FY15
Fast Money Traders Comment On Stocks Making Headlines On January 27

Citigroup reiterates its Neutral rating on Zions Bancorp (NASDAQ: ZION) and reduces its price target from $22 to $20.50.

Citigroup notes, "We reduce our 2013 and 2014 NIM estimates by 2 bps and 10 bps, respectively to 3.62% in 2013 and 3.78 in 2014. This compares to 3.73% at the end of 1Q12. …In the hypothetical case that rates remain flat through 2014, we estimate that 2013 and 2014 estimates could fall by another ~6% and ~11% vs our new estimates. Our 2012 estimate would remain unchanged."

ZION closed at $18.31 on Thursday.

Latest Ratings for ZION

DateFirmActionFromTo
Mar 2015UBSInitiates Coverage onSell
Feb 2015MacquarieUpgradesNeutralOutperform
Jan 2015JefferiesMaintainsHold

View More Analyst Ratings for ZION
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (ZION)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→