- Baird analysts upgraded Zions Bancorp to Outperform
- US regional banks gain in pre-market after the sell-off triggered by rising loans at-risk
- Baird analysts upgraded Zions Bancorp to Outperform
- US regional banks gain in pre-market after the sell-off triggered by rising loans at-risk
Yesterday, $50M loan loss triggered the 13% sell-off for Zions Bancorp shares, pressuring broader US banking sector. Investors are worried that a numerous US bankruptcies such as Tricolor and First Brands will pressure financial conditions for banks exposed to such risks. However, Baird analysts said that the Zions' loss was not systemic but rather a one-off issue. Also, Raymond James analysts agreed the risk for the bank seems contained. However loans at-risk level are rising. Zions will report Q3 earnings on Monday. The stock is up almost 5% in premarket today. Baird upgraded the Zions from Outperform to Outperform and $65 target, which is almost 40% higher than current share price.
Source: xStation5
DE40: European markets decline due to concerns about the U.S. banking sector
Cockroach fears cause stock market sell off, as we wait for clearer details
Zions Bancorporation Shares Under Pressure After Loan Write-Down!
J.B. Hunt gains 18% after strong quarterly results 🚀
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
