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Investing.com - DA Davidson has reiterated its Buy rating on Zions Bancorp (NASDAQ:ZION) with a price target of $69.00, following the bank’s recent credit loss pre-announcement. According to InvestingPro data, the stock appears fairly valued at current levels, with analysts setting price targets ranging from $55 to $70.
The financial institution had previously disclosed charge-offs related to two companies where misrepresentations were detected, but DA Davidson noted that management views this as an isolated event after reviewing the loan portfolio.
Excluding the $50 million in charge-offs, net charge-offs were only $6 million, representing just 4 basis points of average loans, according to the research firm’s analysis.
DA Davidson highlighted that classified and criticized loans have declined for two consecutive quarters, with management expecting this positive trend to continue.
The research firm also noted that Zions’ core pre-provision net revenue showed strong performance, increasing 12% quarter-over-quarter, driven by strong total revenue growth while expenses remained flat, with management maintaining its rolling 12-month outlook except for a slightly more positive view on loan growth.
In other recent news, Zions Bancorporation reported its Q3 2025 earnings, surpassing expectations in both earnings per share (EPS) and revenue. The company achieved an EPS of $1.48, slightly above the forecasted $1.46, while revenue reached $872 million, exceeding the anticipated $843.1 million. These results highlight the company’s strong financial performance for the quarter. Additionally, Keefe, Bruyette & Woods reiterated its Market Perform rating on Zions Bancorp , maintaining a price target of $64.00. The research firm noted a "solid PPNR beat across the board" and strong asset quality trends, with only 4 basis points of net charge-offs, excluding a previously disclosed isolated charge-off. These developments reflect the company’s stable financial health and ongoing investor interest.
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