Zions Bancorp Analysts Increase Their Forecasts After Strong Q4 Earnings

Core Viewpoint - Zions Bancorporation reported strong fourth-quarter earnings, exceeding analyst expectations in both earnings per share and sales figures [1][2]. Financial Performance - The company achieved quarterly earnings of $1.76 per share, surpassing the analyst consensus estimate of $1.57 per share, marking a 31% increase from the previous year's earnings of $1.34 per share [2]. - Quarterly sales reached $879 million, exceeding the analyst consensus estimate of $862.818 million, reflecting a 7.1% increase [2]. Expenses and Donations - Adjusted noninterest expense rose by 7.7% to $548 million, which included a $15 million donation to the Zions Bancorporation Foundation [2]. - Excluding the donation, adjusted operating expenses would have increased by 4.7%, resulting in a positive operating leverage of 2.4% and an efficiency ratio of 60.6% [2]. Stock Performance and Analyst Ratings - Following the earnings announcement, Zions Bancorp shares increased by 2.9%, trading at $60.80 [2]. - Analysts have adjusted their price targets for Zions Bancorp, with Stephens & Co. raising it from $63 to $65 and RBC Capital increasing it from $63 to $64, while maintaining their respective ratings of Equal-Weight and Sector Perform [3][4].