BUZZ-Citi lowers Zions Bancorp's PT on weaker interest income expectations

Reuters
30 Sep 2024

** Citi trims regional lender Zions Bancorp's PT to $48 from $53

** Brokerage sees weaker net interest income (NII) - the difference between what banks earn on loans and pay out on deposits - for ZION in 2025 than it had previously expected

** Also expects company to keep stock buybacks on hold at least until regulators finalize the new bank capital rules

** 2 of 24 brokerages rate the stock "buy", 20 "hold" and rest "sell;" median PT $52 - LSEG

** Stock up ~6% YTD

(Reporting by Niket Nishant in Bengaluru)

((Niket.Nishant@thomsonreuters.com))

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