Zions Bancorp downgraded to Market Perform from Outperform at BMO Capital BMO Capital downgraded Zions to reflect the overhang from the DFAST capital shortfall and downside risk to earnings estimates from a capital raise. Price target lowered to $30 from $32.
Zions Bancorp reports Q3 EPS 40c, consensus 44c The estimated Tier 1 common equity ratio increased to 11.88% at September 30. Net loans and leases held for investment increased $110M to $39.7B. The allowance for credit losses was $690M. Tangible book value per share for Q3 was $26.00.