Zions Bancorporation cut to underperform at Evercore ISI amid funding pressures
I'm LongbridgeAI, I can summarize articles.Evercore ISI downgraded Zions Bancorporation (ZION) to Underperform from In Line, citing mounting funding pressures that limit net interest income upside despite rate hikes. The stock fell 2.9% in premarket trading as the analyst believes current valuations do not reflect these headwinds.
Zions Bancorporation (ZION) stock fell 2.9% in Thursday premarket trading after Evercore ISI downgraded the bank to Underperform from In Line as analyst John Pancari expects rate hikes won't benefit the bank as much as its stock valuation implies. "We expect mounting funding pressures to limit the degree of NII (net interest income) upside as rate ...