01:15 PM EDT, 04/22/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target price by $2 to $42, 9.1x our 2025 EPS estimate, a slight premium to the peer average of 8.9x. We increase our 2024 EPS estimate by $0.11 to $4.32 and raise 2025's by $0.09 to $4.58. ZION posted adjusted Q1 EPS of $1.03 vs. $1.33 a year ago, $0.02 above consensus. It was a strong quarter for the bank as net interest income bucked its previous downward trend with 1% growth Q/Q. Importantly, deposit pricing pressures showed signs of easing as ZION's cost of total deposits held steady at 2.06%. Noninterest income was mixed with strength in capital markets (+26%) but weakness in card fees (-12%). With revenues struggling to keep up with noninterest expenses, ZION saw its efficiency ratio deteriorate 280 bps to 67.9%. Credit quality continued to outperform peers with net charge-offs falling 2 bps to 0.04%. The bank's capital profile marginally improved with the bank's CET1 ratio rising 10 bps to 10.4%. We remain at Hold given a deflated net interest margin and muted long-term growth prospects.