Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “We’re pleased with the continued improvement in our financial performance, reflected in the 21% increase in earnings per share over the same period last year. The net interest margin strengthened to 3.03% from 2.93% a year ago, and operating costs increased a modest 1%. Average noninterest-bearing demand deposits decreased 1.7% relative to the prior quarter of this year, but were flat to last quarter’s ending balance, suggesting continued stabilization of this important source of low-cost funding. Tangible common equity has grown 28% over the past year, and 8% over the past quarter.”

• Baird analyst David George maintained Zions Bancorp with a Neutral and raised the price target from $52 to $55.
• RBC Capital analyst Jon Arfstrom maintained the stock with a Sector Perform and raised the price target from $55 to $57.
• Stephens & Co. analyst Terry McEvoy maintained the stock with an Equal-Weight and increased the price target from $53 to $55.
• Goldman Sachs analyst Ryan Nash maintained Zions Bancorp with a Neutral and raised the price target from $52 to $59.
• Keefe, Bruyette & Woods analyst Christopher Mcgratty maintained Zions Bancorp with a Market Perform and raised the price target from $53 to $56.
• Wedbush analyst David Chiaverini maintained Zions Bancorp with a Neutral and raised the price target from $52 to $55.
• Wells Fargo analyst Mike Mayo maintained the stock with an Equal-Weight and raised the price target from $50 to $54.
• Morgan Stanley analyst Ken Zerbe maintained Zions Bancorp with an Equal-Weight and raised the price target from $54 to $56.