Zions Bancorporation (ZION, Financial) exceeded market expectations for the first quarter, reporting revenue of $794.82 million. The company also noted a significant improvement in its financial performance compared to the same period last year, with net income rising to $169 million and earnings per share (EPS) reaching $1.13, both figures marking an 18% increase.
The company's net interest margin saw an increase of 16 basis points, while adjusted pre-provision net revenue grew by 10%. Furthermore, Zions Bancorporation successfully completed the acquisition of four branches in California’s Coachella Valley from FirstBank of Denver, Colorado. This strategic move added approximately $630 million in deposits and $420 million in loans, expanding their client base under their California Bank & Trust affiliate.
Credit quality remained stable, with nonperforming assets holding steady at 0.51% of loans and leases. Meanwhile, annualized net charge-offs were recorded at 0.11% of loans and leases. Despite current economic uncertainties, which include potential negative impacts from tariffs and international trade policies, the company remains confident. Their robust credit culture and strong reserves are expected to help navigate any potential financial turbulence in the upcoming quarters.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 17 analysts, the average target price for Zions Bancorp NA (ZION, Financial) is $58.71 with a high estimate of $65.00 and a low estimate of $52.00. The average target implies an upside of 34.58% from the current price of $43.62. More detailed estimate data can be found on the Zions Bancorp NA (ZION) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Zions Bancorp NA's (ZION, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Zions Bancorp NA (ZION, Financial) in one year is $53.26, suggesting a upside of 22.1% from the current price of $43.62. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Zions Bancorp NA (ZION) Summary page.
