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UPDATE: D.A. Davidson Lowers Price Target On Zions Bancorporation On 4Q14 GAAP EPS

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In a report published Tuesday, D.A. Davidson analyst Gary P. Tenner reiterated a Buy rating on Zions Bancorporation (NASDAQ: ZION), but lowered the price target from $34.00 to $32.00.

In the report, D.A. Davidson noted, “ZION reported 4Q14 GAAP EPS of $0.36 versus our/Street $0.42 estimate. The only meaningful variance to our estimate was on the provision line, which was $11.6 million versus our $9.7 million negative estimate. The $21.3 million energy-driven PLL variance accounted for nearly the full $22.6 million pretax variance. ZION recorded a $15 million investment gain that was largely offset by a $12 million loss on sale of $150 million par value in CDOs.”

Zions Bancorporation closed on Monday at $25.12.

Latest Ratings for ZION

DateFirmActionFromTo
Aug 2019ReiteratesBuy
Jul 2019MaintainsOverweight
Jul 2019DowngradesOutperformMarket Perform

View More Analyst Ratings for ZION
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Gary P. TennerAnalyst Color Price Target Analyst Ratings

 

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